How Hyundai Defied the Odds

Despite the serious struggles throughout the auto industry, one company has seemingly defied the odds. Over the last year, Hyundai Motor America has actually shown strong sales and a growing popularity with US car buyers. In September, Hyundai boasted a 27% sales increase over figures from September of 2008. Overall, the Korean carmaker is up 1.4% compared to last year's numbers and it leads the auto industry in market share growth for 2009. Hyundai also saw the smallest brand value decrease compared to other carmakers, quite a feat considering the plight of Detroit's auto companies. So what's set Hyundai apart from the rest of the field? While its modestly priced vehicles are certainly at the core of its success, it's the smart marketing and promotions that have played an even larger role. Here's a look at three promotions that Hyundai has used to fuel its sales and gain traction against some of the larger carmakers out there.

Cash for Clunkers

The US government Cash for Clunkers program delivered exactly what carmakers had hoped for. Although it was short lived, thousands of people turned out to take advantage of great deals and the auto industry got a much needed shot in the arm. Hyundai was obviously determined to make the most out the program and they did so by kicking things off before the competition. Even though the program was supposed to begin on July 5th, Hyundai begin honoring the vouchers several weeks before. By getting a head start, the automaker was able to move more vehicles than other dealers under the fleeting Cash for Clunkers program.

The Hyundai Assurance Program

If you're like most United States consumers, you're at least somewhat concerned over job stability during these rocky economic times. Generally, that means saving money and pinching pennies, not purchasing a new car. Somehow though, Hyundai has found a way to take advantage of the average consumer's mindset with their Hyundai Assurance program. Designed to give customers security and peace of mind in the purchase of their new vehicle, this program allows you to return your vehicle if you lose your income. In order to qualify for the program, a consumer must make at least the first two scheduled payments on the car and remain in good standing on their loan or lease. The company defines loss of income has involuntary unemployment, physical disability, or having to declare bankruptcy if you're self employed. While there are some strings attached, it's still a smart marketing move that obviously helped attract new buyers in a time when they've been hard to come by.

Hyundai's Gas Lock Promotion

With gas prices still putting a major strain on driver's wallets, Hyundai's Gas Lock program definitely caught the attention of the economically concerned buyer. In this promotion, the automaker offered new car buyers to fill up on gas at just $1.49 a gallon for a full year. Buyers who took advantage of the program received a special credit card to make their gas purchases. Hyundai also allows customers to take a $1,000 rebate on their purchase instead of the Gas Lock Promotion, which may provide better savings in some circumstances.