Sandy causes Hyundai to log first drop in US monthly sales in over 2 years

Article by Anita Panait, on November 2, 2012

Hyundai posted a 4-percent decline in sales in the US in October 2012 to 50,271 vehicles, its first year-over-year monthly decline since August 2010. The South Korean carmaker recorded an 8-percent jump in sales in the US for the year through October to 590,085 units. In a post on Twitter, Hyundai Motor America chief executive John Krafcik blamed the sales decline to Hurricane Sandy as well as tight supplies of the Accent subcompact and Veloster sporty coupe.

Dave Zuchowski, Hyundai's executive vice president of sales, said in a statement that Hurricane Sandy had a "devastating impact” on its dealers and millions of residents along the Eastern Seaboard. Hyundai considers the Eastern region as its second-largest market in terms of sales volume. According to Hyundai, Hurricane Sandy disrupted operations at many of its 173 dealerships in the Eastern Seaboard.

Among high-volume dealerships that were forced to shut down temporarily were Brad Benson Hyundai in South Brunswick, N.J. and Atlantic Hyundai in West Islip, N.Y. Brad Benson is Hyundai's third-largest dealership while Atlantic Hyundai is the carmaker’s highest-volume U.S. retailer as of Sept. 30, 2012. Both dealerships have resumed operations and a Hyundai spokesman disclosed that 80 percent of the carmaker’s Eastern Region dealers are expected to resume operations tomorrow.

According to a Hyundai tally as of early Thursday afternoon, fewer than 300 vehicles in inventory were reported destroyed by Hurricane Sandy. Krafcik remarked in a statement that Hyundai continues to work with its dealers in areas impacted by Sandy to ensure vehicles lost to the storm are replaced as quickly as possible.

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