Thursday, January 22, 2009

Hyundai Assurance program is a hit in USA Auto Market

The economic recession has hit the automakers badly in USA. Top companies like General Motors went bankrupt. However, Asian automakers are not in a bad shape in USA. Hyundai Motor Co., the largest automaker in USA started a new program and it became an instant hit among buyers. Under this new program, buyers who would lose their jobs in one year of buying the car would be able to return them. The company started this new program on January 3, 2009.

Reuters reports:

Hyundai, whose sales plunged 48 percent in December, has seen U.S. sales rise in the first half of January from a year earlier, the automaker said in a presentation to the Automotive News World Congress.

"It's too early to say what it is going to look like for January, but the early results are promising," John Krafcik, acting president and chief executive of Hyundai Motors America, said of the car return program.

North America is the biggest auto market in the world and Asian automakers have become the top automakers in USA. Toyota is the number one auto-maker in USA. Hyundai has also curved its niche in the American market.