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Hyundai posts strong sales in March despite earthquakePosted On Mon, April 11, 2011
With many Asian carmakers reporting below-average sales in the month of March due to the earthquake that hit Japan, Hyundai appears to have weathered the storm.
Earlier this month, Hyundai, which is based in South Korea, reported that car sales in the U.S. last month hit a record for the company, posting a 32 percent increase in the number of units sold.
Hyundai attributed the boost in sales to the new Sonata model it unveiled in the U.S. this past February.
Despite the earthquake, an industry analyst with Kelly Blue Book tells Bloomberg that Hyundai can expect more of the same this month when it comes to strong sales.
"Hyundai is right in tune with what this market is demanding in terms of price and features," Jack Nerad of KBB said. "Sales will stay strong in April."
However, Nerad noted that low supply - which has been down at many Asian car manufacturers because the earthquake's devastation has forced many factories to close - may adversely affect sales.
In the meantime, another factor boding well for Hyundai car and auto insurance purchases is the fact that it's line of automobiles fared well in a recent J.D. Power and Associates vehicle dependability study.
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