While the Detroit-based Big Threefight it out with expensive incentives, South Korean automaker Hyundai Motor Co. enjoyed its 15th straight record month in April offering just $750 and confidence, according to Yahoo News. By the end of the year, according to Finbarr O'Neill, president and CEO of the automaker's American unit, Hyundai expects to beat 2001 sales by 7 percent or about 36,000 vehicles.
The automaker is off to a running start. This year's sales through April are 17 percent higher than the same 4-month period last year.
It's a remarkable change of affairs for a company that, just four years ago, had a questionable reputation and sales so poor it almost pulled up stakes and put the Pacific Ocean in its rear view mirror, according to Yahoo.
Chastened by its early setbacks, Hyundai began to pay more attention to both quality and styling, according to Yahoo. To correct the ailing public impression, it began offering a 10-year, 100,000-mile warranty on its cars. Then it added a $750 cash rebate.