Editor/Reporter - CheersandGears.com
April 13, 2012
Hyundai could reach 700,000 vehicles sold by the end of the year, despite tight vehicle supplies due to Hyundai's cap on global production.
Hyundai Chairman Chung Mong-koo has been on crusade for better quality vehicles. One of his moves to improve it was to put a cap on production. On one hand, that's a good move to have better quality. On the other hand, Hyundai is “literally selling cars off the transporters” to meet demand. In early March, Hyundai had 55,000 vehicles in dealer inventory.
"What (Chung) wants to do is assure we're all focused on quality." said Hyundai’s North American operations, John Krafcik. "When he is satisfied that we've achieved this steady state from which we can grow, then we'll have some opportunity" for adding capacity.
For now, Hyundai will slash fleet sales from 10% to 5%. Krafcik said that should free up about 100,000 vehicles.
Last year, Hyundai sold 645,691 vehicles in the U.S., up 20% from 2010.