September Genesis Sales

[YEH]

Hyundai sold 1,029 Genesis sedans last month.

For the year, the total no. of sales thus far is 2,855.

The drop is not surprising considering the tighter credit market and people just not being willing to make large purchases at this time.

Every auto manufacturer got hammered last month, including previously infallible Honda (over 20% drop).

Hyundai, overall, saw sales drop 25% in comparison to Sept. of last year w/ the only model not to drop in volume being the Sonata (Sonata sales went up).

CARLINE SEPT/2008 SEPT/2007 CY2008 CY2007
------- --------- --------- ------ ------

ACCENT 3,014 3,120 44,393 29,212
SONATA 8,629 6,550 97,442 99,358
ELANTRA 3,681 7,164 86,144 73,890
TIBURON 677 1,236 7,730 11,850
SANTA FE 4,676 7,496 56,629 70,005
AZERA 483 1,423 13,437 17,361
TUCSON 1,294 3,693 16,247 32,449
ENTOURAGE 455 879 4,360 15,664
VERACRUZ 827 1,653 8,427 8,618
GENESIS 1,029 N/A 2,855 N/A
TOTAL 24,765 33,214 337,664 358,407

 

[Samifumi]

I imagine the slow sales are due to a combination of the economy, gas prices, and consumer reluctance to purchase a $40k Hyundai. I also believe the dealer network is generally not prepared to sell a $40k luxury Hyundai.

That being said, I recall back in 1989 that my family purchased a Lexus LS400 for $42k. That was almost 20 years ago. Using one of the inflation calculators, that $42k translates to almost $70,000 in 2008. Conversely, $40k today translates into $23,500 in 1989. I find those numbers staggering. I assure you, the Hyundai is equal to, or more than, the original Lexus LS400 with regards to fit and finish (and obviously years ahead in terms of automobile technological advancements). There really is no reason this car shouldn't be selling like hotcakes other than a VERY poor economy.

 

[redassag00]

Good Point sami, I still think 40K is a lot to spend on transportation, considering that 25K will buy a very nice car, or even a nicer used Car.

 

[sandy]

Genesis sales might also be slowed by the lack of inventory on dealer floors. In my area (Ct), dealers have at most two or three in stock which is very limited considering the colors and trim packages to choose from.

 

[Samifumi]

Genesis sales might also be slowed by the lack of inventory on dealer floors. In my area (Ct), dealers have at most two or three in stock which is very limited considering the colors and trim packages to choose from.

I don't think lack of inventory is really a problem unless you're looking for a V8 or you are bent on having white. Most dealers I've seen had more stock than they care to deal with.

 

[realpix]

I don't think lack of inventory is really a problem unless you're looking for a V8 or you are bent on having white. Most dealers I've seen had more stock than they care to deal with.

Any more than one in stock is too much!

And yes - I decided to go with the V-8 and with Pearl White - like my last 3 Hyundais. If I'm spending this kind of money - I'm going to get what I want.