Hyundai’s Sales in the US Might Reach Target of 734,000 Units in 2013 image

Hyundai’s North American Chief Executive John Krafcik said that the automaker’s sales will increase 4.4% in 2013 to 734,000 vehicles.

Hyundai’s North American Chief Executive John Krafcik reaffirmed the automaker’s goal set in February, even if the company’s US market decreased as Hyundai keeps global production capacity at lower levels to maker sure quality remains high. In June industrywide auto sales in the US were up 9% and the annual pace in this month was the fastest since November 2007.

Hyundai’s sales in the US are on track to reach 734,000 units and its market share heads towards 4.7%. In 2012 the automaker sold 703,007 units and its market share was 4.9%. During the recent recession Hyundai was the fastest-growing car maker, but its sales have diminished due to the lack of new vehicles.

Krafcik also said that Hyundai’s inventory of vehicles in the US was the second-lowest in the industry, among all non-premium brands, at 44 days, giving the company the possibility to avoid offering big incentives for its buyers. Hyundai recently added a third shift at its Montgomery plant, in Alabama, adding 60,000 vehicles to the annual production.

Source: Reuters