Despite Sluggish Industry Growth, Hyundai Continues Record Sales in February
February wasn’t a favorable month for the automotive industry. Despite some major auto shows across the nation, February car sales in the US only amounted to 1.25 million vehicles, according to Autodata–nearly 2% less than analysts predicted. That sets the sales rate for 2015 at 16.2 million– over 500,000 less than economists were anticipating.
The biggest detractor to healthy February growth was the bitter cold winter, as many automakers and industry experts blamed the adverse weather for lukewarm results.
However, frigid temperatures didn’t keep Hyundai customers from tunneling out of their houses and making it the best February for Hyundai ever. The company reported hot sales numbers for the second month of 2015.
The automaker reported selling 52,505 units in February–a 7% increase over the sales rates of February last year.
The most successful vehicle sold, as usual, was the Elantra with 15,708. The Sonata wasn’t far behind, reporting 13,987 units sold. The biggest year-over-year increase was achieved by the Genesis, which boasted a 175% increase over last year.
“Even the treacherous weather across the country couldn’t keep shoppers away from dealerships in February,” said Bob Pradzinski, vice president of Hyundai’s national sales. “With consumer spending and confidence continuing to grow at the fastest pace in years, customers bought Hyundais in record numbers, giving us the best February in our history.”
Many automakers and industry analysts expect sales rates to recover in the coming months as the weather improves. At this rate, Hyundai has already escaped winter and is basking in the sunshine.
News Source: Reuters