Hyundai posts great third quarter numbers

The used Hyundai Entourage Bloomington dealer is very excited that Hyundai performed very well in their third quarter.  Hyundai’s net profit jumped to a record $827 million from a year earlier, with profits tripling from last year’s $264 million. Hyundai also gained 2.2 percentage points in the overall market share and is experiencing a 30.1 percent increase in new vehicle registrations.

Hyundai headquarters tells the used Hyundai Accent Bloomington dealer that profits were fueled by surging sales in their key markets in China, USA, and Europe. Hyundai has been particularly successful in China, where it has sold more that 155,ooo new cars in the last three months and in September Hyundai sold more than 60,000 units in China alone.  Also, Hyundai has been particularly successful in India as well where sales have increased by 17 percent..

The used Hyundai Entourage Bloomington dealer is very happy that Hyundai has also managed to boost their new car sales in the US market. This past August, Hyundai set it’s best sales month ever, with sales crossing the 60,000 mark. US government incentive programs also contributed to Hyundai’s high sale numbers. These programs included Cash for Clunkers that provided rebates worth as high as $4,500 to those consumers who traded their old gas-guzzles for new, more fuel efficient vehicles.  The incentive offered by Hyundai that allowed buyers who lost their jobs to return just-purchased new cars also benefitted Hyundai’s profits. The launch of Hyundai’s Genesis Sedan, which J. D. Power and Associates ranked as the most smoothly launched vehicle for 2009, also was a reason for Hyundai’s high sales numbers.

Jeff Anderson, director of Consulting and Analytics for Experian Automotive, says of Hyundai’s recent number growth, “Given the extraordinary challenges in the current economy, Hyundai showed positive growth.They were able to pick up market share gains and improve on their customer loyalty. This gain in momentum should see this company well-positioned for success when the market turns around.”

The used Hyundai Accent Bloomington dealer believes that Hyundai’s numbers are only going to increase over the next year, due to the release of new models, such as the 2011 Sonata Sedan and 2010 Tucson crossover. Hyundai also is planning on beginning production of lithium-ion car batteries later this year. This is expected to help Hyundai speed up it’s efforts to increase the presence in the growing environmentally friendly vehicle market. Over the next three years, Hyundai plans to release a variety of hybrid and electric cars.