FOUNTAIN VALLEY, CA – Hyundai Motor America Wednesday announced sales of 53,603, down 11 percent compared with the all-time sales record set in August 2009, when the successful "Cash for Clunkers" program was in place.
Still, August marked the third best volume month in company history, saw a 5.3 percent retail market share - the highest market share ever achieved -- and delivered the 20th consecutive month of retail market share gains. For the year, Hyundai has reported cumulative sales of 363,491, up 17 percent versus the same period in 2009, and remains on track to establish an all-time sales record for the full year.
"Even with an erratic stock market, sluggish home sales and faltering consumer confidence over the past several months, Hyundai continues to significantly outperform the industry and gain market share," said Dave Zuchowski, Hyundai Motor America's vice president of national sales. "Consumer demand for our products remains strong, and as we take aggressive action to increase production of high-demand vehicles and improve dealer supply, we feel we're well-positioned for growth over the remaining four months of this year. We're preparing to launch our flagship Equus sedan and are introducing three additional new products to our lineup in the fourth quarter, backed by an ambitious media plan to ensure we maintain our momentum in the face of challenging market conditions."
On a year-over-year basis, Elantra, Sonata and Tucson sales increased 21 percent 50 percent and 139 percent, respectively. Genesis set another all-time sales record in August and is up 27 percent for the year – this marks the 14th consecutive month of year-over-year sales gains for Genesis. The strength of this broad product lineup and the overall reduction in incentive spending is continuing to have a positive impact on residual values.