Hyundai has been gaining auto market share in the US. The Korean firm sold almost 37,000 light vehicles in America last month. Its success is moving it to a level where it has begin to become a threat to Chrysler’s and Nissan’s market share.
Hyundai has picked up sales because of inexpensive new cars like the Genesis, but the secret to its success is also the way that it markets its products.
Hyundai was the first car company selling vehicles in the US to offer to make three months of car payments if one of its customers became unemployed and even to take the car back if that customer could not find a job within a year. The program has been mimicked by several other manufacturers.
Now, the South Korean company has come to market with another smart promotion. Customers who buy a Hyundai before August 31 will get $1.49 per gallon gas for a year. With the price of petrol moving toward $3 in some regions of the country that incentive could be meaningful. Oil is above $70 now and that price could rise between now and year-end which would almost certainly take the price of gas with it.
Hyundai may be the best example of why foreign car companies continue to best their domestic competitors in sales growth. For drivers who travel only a modest amount over the course of the year, the $1.49 gas program may only cost Hyundai a few hundred dollars per vehicle. But, it gives drivers an assurance that other car companies are not offering.
Douglas A. McIntyre
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