Hyundai tops 10-million sales in U.S.

By: 9 years ago

In this July 26, 2012, file photo, the logo of Hyundai Motor Co. is seen on its car at the company’s showroom in Seoul, South Korea. AP FILE PHOTO

SOUTH KOREA—Hyundai Motor, South Korea’s largest automaker, said Thursday its cumulative sales in the U.S. topped 10 million units in about three decades after its entry into the world’s second largest auto market.

Hyundai began selling cars in the U.S. in 1986, with the export of the subcompact Excel. Despite very little awareness of the Hyundai brand or its products, the customer response was immediate—Hyundai sold 168,882 Excels right out of the gate. Within seven months, Hyundai sold its 100,000th Excel, helping to set an industry record for the most first-year sales for an import car company.

As of 2015, the automaker sells 15 different types of cars from the compact to SUV and full-size sedan. The top two contributors in sales Hyundai’s midsize sedan Sonata and compact car Elantra. Of the 10 million vehicles sold in the U.S. in the past three decades, the Sonata accounted for a share of about 24.98 percent, followed by the Elantra with 24.85 percent and the SUV Santa Fe with 12.45 percent, the company said.

“With the completion of the company’s production line in Alabama in 2005, the growth of sales was accelerated, reaching 6 percent on average per year,” the company said in a press release.

As of now, about 56 percent of the cars Hyundai sells in the U.S. are made at the plant, according to Hyundai Motor America.

Market watchers said another key factor driving Hyundai’s continued growth in the U.S. is the firm’s aggressive warranty program. The program includes a five-year, 60,000-mile (96,560-kilometer) fully transferable bumper-to-bumper warranty and a 10-year, 100,000-mile powertrain warranty for first owners.