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More good news for Hyundai: The South Korean automaker has leapfrogged Ford to become the fourth largest automaker in terms of global sales.
This jump was bolstered by a substantial improvement in North American sales during the month of August 2009. Hyundai sold 60,467 vehicles last month — a 33-percent increase over July of 2009, a 47-percent increase over August 2008′s figures, and an all-time record for the South Korean company’s North American wing.
The worldwide recession has become somethingof a perfect storm for Hyundai. John Krafcik, president and CEO of Hyundai Motor America, told The Washington Post that “value-focused brands tend to do better than premium brands during difficult economic times, and that’s played to our natural strength.”
Of course, a string of successful new products, government incentives (a.k.a. “cash for clunkers”), and some savvy marketing programs (e.g. the Hyundai Assurance programs) haven’t hurt, either…
Source: Washington Post
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