Hyundai to offer discounts on outgoing Elantra as new version nears

Article by Andrew Christian, on January 28, 2015

The redesigned Hyundai Elantra will be rolled out in the near future, and the South Korean carmaker is taking a chunk off the price of the current version to clear out its inventory. According to Hyundai Motor America chief executive Dave Zuchowski, there is a need to sell the current Elantra down “on a smooth basis to clear the decks” for the new one.

He told Automotive News following a meeting with dealers that Hyundai will offer increased incentives and extra-rich trim packages for the MY2016 Elantra to give the model an edge over its rivals. During the meeting, Hyundai introduced Sam Suh, the new CEO of Hyundai Capital America, parent Hyundai Motor Finance and Kia Motors Finance.

Suh told dealers that there are plans to offer discount financing for returning customers to boost customer loyalty. Zuchowski quipped that Suh announced some changes that will allow them to capture returning customers.

Hyundai dealers expressed optimism with their prospects this year, despite the fact that Hyundai’s growth has been slower than the auto industry’s.

In 2014 alone, Hyundai only sold 1 percent more vehicles to 725,718 units in a US market that surged 6 percent. That same year, Hyundai saw sales of the Elantra in the US drop 10 percent to 222,023 vehicles.

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