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Tuesday, November 17, 2009

Hyundai Experienced a Successful 2009 Unlike Many Automakers

Economic recession has taken a big test for the major automaker as many faced huge losses, while some even faced bankruptcy. However, Korean automaker Hyundai and its sister concern Kia. Despite a slow recession hit market, Hyundai kept its momentum going thanks its excellent marketing policy as well as new products.

Hyundai saw 4% up in its sales in 2009 compared to 2008, while many other car makers like Toyota, Honda, General Motors, Nissan, Ford and Chrysler experienced losses ranging from 20% to 30%. Kia also experienced 6.7% increase in its sales.

In order to keep itself in growth, Hyundai launched the cash-for-clunkers which ended up becoming very successful. Moreover, a lot of credit go to Hyundai’s marketing department too. While many other companies opted out from promoting their products during recession, Hyundai continued giving ads. Overall, Hyundai acted very smartly, and thus, turning a tough period into highly successful.

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