According to the company, certain dealers who are parties to the Genesis Participation Agreement (GPA) and operate in “defined key markets” will be given first opportunity to apply for the Genesis franchise.
According to the American International Automobile Dealers Association, Hyundai and Nissan registered significant sales declines in August, while Subaru, Toyota, Volkswagen, and Volvo finished the month on a high note.
The average transaction price rose despite mixed results for major automakers, with Fiat Chrysler topping the list with a 6.1% year-over-year increase in the brand’s average price.
Sister South Korean automakers Hyundai Motor Co. and Kia Motors Corp. will invest $3.1 billion in the U.S. in the next five years and may build a new assembly plant in the United States, Hyundai Motor's president told reporters on Tuesday.
The automaker’s Chief Legal and Safety Officer, W. Gerald Flannery, takes over as interim president and CEO while the company searches for Zuchowski’s replacement. Flannery has been with the company since 1987.
The industry sold 1.38 million new units in November, a 3.7% increase from a year ago, according to Autodata Corp. November's seasonally adjusted annual rate was 17.87 million, which was slightly lower than last November’s SAAR of 18.25 million.
The estimated average transaction price for light vehicles in November was $34,948, a 1.7% increase from a year ago, according to Kelley Blue Book. An analyst with the firm attributed the increase to a shift in consumer preference from cars to more expensive trucks and SUVs.
Hyundai will offer a subscription-based approach to vehicle ownership with its 2017 Ioniq Electric sedan that will allow customers to acquire the vehicle for a fixed monthly fee that covers all costs of ownership, Hyundai announced ahead of the Los Angeles Auto Show.
Hyundai's Genesis luxury division hopes to establish stand-alone dealerships for a lineup that will include six models by 2021, according to the automaker.
The father-and-daughter team of Mike and Sue Finneron built Canada’s No. 1 Hyundai dealership on the site of their disenfranchised Pontiac store.
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