Hyundai Motor America CEO John Krafcik talked to Lou Ann Hammond, CEO, www.drivingthenation.com about Hyundai products and the car market.
Krafcik happily reports that “this is our best start ever. Some companies are reporting that this is their best start of a year since the great recession, but this is our strongest start E-V-E-R. We’re happy with our sales, but boy if we could only get more”
Krafcik makes sure to report retail sales, which are up 4.6 percent, with an average transaction price of $23,362, up 3.2 percent from a year ago. Hyundai has always reported low days-to-turn and they are still among the third lowest non-premium brands in the industry for days-to-turn. Subaru’s days-to-turn are at 35 days, Kia’s’s is 36 days, Hyundai is 39 days while the industry average is 59 days.
Another way to look at it, Krafcik says, is “we’re about a 5 percent market share and we’ve got only 3 percent of our inventory on the ground.”
Hyundai continues to struggle with production constraints which is one of the reason that Hyundai will be producing the Santa FeGLS/Limited in Korea, not the United States.
Bluelink, Hyundai’s version of On-Star in-car communication, is growing by leaps and lock-ins. 370,000 people have enrolled in Bluelink since Hyundai launched the service, with the most favorite feature being the remote start from your smart phone.
Why is the average cost of a Hyundai below the industry average vehicle?
What is good pricing in Krafcik’s mind?