Hyundai continues to keep consumers and industry analysts surprised, and their latest feat is reporting a record quarterly profit of $728.4 million for the end of 2009.
As the recession continued throughout 2009, Hyundai seemed to have struck a chord with consumers that were weary about the economy. Helped by an outstanding warranty, and their unique Hyundai Assurance Program, Hyundai vehicles quickly became preferred over rivals such as Toyota and Honda. Hyundai’s value and quality also helped the Korean automaker increase market share.
With so many factors helping propel Hyundai vehicles into the mainstream, it’s no surprise that Hyundai is producing substantial profits. The recent quarter’s profit is up 44 percent compared to the same period in 2008. Hyundai’s sales, as well as the sales of sister brand Kia, remain strong. As the industry rebounds from the economic slowdown, sales for both brands are expected to grow this year.
In 2010, Hyundai looks to be unstoppable as the automaker is releases several new models such as the all-new Sonata and Tucson.
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