Hyundai Urges Quick Passage of Fleet Modernization Program

FOUNTAIN VALLEY, Calif., June 2, 2009 - Hyundai Motor America today announced sales of 36,937 vehicles in May, a nine percent increase over April and a 20 percent decline versus a record-setting May 2008.

“Record sales of our new Genesis and Elantra Touring models, and continued strength of core models like the Alabama-built Sonata and Santa Fe, lift our retail market share to its highest level of the year,” said Dave Zuchowski, Hyundai Motor America vice president of national sales. “What’s even more heartening for us is that May marks the fifth consecutive month of year-over-year monthly retail share gains, even as we’ve been steadily reducing our incentive spending.”

While making its May sales announcement, Hyundai Chief Executive Officer John Krafcik commented on the pending Fleet Modernization program. “While Hyundai has fared better than most others over the last several months, we can’t lose sight of the fact that U. S. auto industry sales are now forecast at the lowest levels in 26 years,” Krafcik said. “It is imperative that the country move forward with the Fleet Modernization program. Our research shows that one in nine car buyers are delaying their purchases until the legislation is resolved.

“The longer this bill remains stuck in Congress, the greater the pressures placed on all aspects of the U. S. automotive industry – from suppliers to manufacturers to dealers. We urge Congress to move quickly so that American consumers can benefit from this bill during the peak summer buying season,” said Krafcik.

More than half of all vehicles sold by Hyundai Motor America are manufactured in the United States at Hyundai Motor Manufacturing in Montgomery, AL. In total, Hyundai directly employs more than 5,000 people in the U.S., with facilities in 14 states across the country. Including its almost 800 dealers and suppliers, Hyundai has created more than 35,000 jobs in the United States.

As Hyundai’s market share climbs, so too does the list of awards and accolades. The 2009 Hyundai Genesis is both North American Car of the Year and its V8 engine is on Ward’s Auto World’s “10 Best Engines” list. The Genesis also received a “Top Safety Pick” rating from the Insurance Institute for Highway Safety, along with Entourage, Santa Fe and Veracruz.

The Alabama-built 2009 Sonata was the highest ranked Premium Mid-Size Car in AutoPacific’s 2009 Vehicle Satisfaction Awards, and the Genesis topped the Aspirational Luxury Car category. Hyundai has also increased its lead over the industry average in the J.D. Power and Associates 2009 Vehicle Dependability StudySM(VDS).

All new Hyundai vehicles sold in the U.S. are covered by America's Best Warranty. In addition, the Hyundai Assurance Program is now offered on all new Hyundai’s leased or purchased at a participating Hyundai dealership. Hyundai Assurance provides protection from certain income-changing life events, allowing consumers to return their vehicles in the first year of ownership without impacting their credit histories, while covering vehicle depreciation (negative equity) up to $7,500.

Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced by more than 780 dealerships nationwide.

CARLINE May-08 May-09 CY/2008 CY/2009
ACCENT 6,941 5,877 21,270 24,789
SONATA 13,620 11,059 49,052 48,531
ELANTRA 13,645 6,932 47,496 33,411
TIBURON 1,023 1,640 3,988 7,903
SANTA FE 6,604 6,486 31,547 26,325
AZERA 1,221 346 9,698 1,638
TUCSON 2,049 1,346 9,783 6,452
ENTOURAGE 491 129 2,533 3,300
VERACRUZ 821 1,043 5,666 6,294
GENESIS 0 2,079 0 8,100
TOTAL 46,415 36,937 181,033 166,743