Hyundai reports 1st monthly sales drop in 2 years
Editor's note: An earlier version of this story overstated the rank of the Eastern region. It's Hyundai's second-largest U.S. region by sales volume.
LOS ANGELES -- Hurricane Sandy and tight supplies of small cars in October caused Hyundai to post its first monthly sales decrease in more than two years.
Hyundai sales fell 4 percent to 50,271 vehicles, down 4 percent from October 2011. It was Hyundai's first year-over-year monthly decline since August 2010.
Year-to-date sales were 590,085 units, up 8 percent from the first 10 months of last year.
In a post on Twitter, Hyundai Motor America CEO John Krafcik attributed the declines to Hurricane Sandy and tight supplies of the Accent subcompact and Veloster sporty coupe.
In a statement, Dave Zuchowski, Hyundai's executive vice president of sales, said the storm had a "devastating impact on our dealers and millions of residents along the Eastern Seaboard."
The Eastern region is Hyundai's second-biggest by sales volume, and the storm disrupted operations at many of its 173 dealerships, Hyundai says.
Among high-volume dealerships that closed temporarily were Brad Benson Hyundai in South Brunswick, N.J., Hyundai's third-largest dealership; and Atlantic Hyundai in West Islip, N.Y., Hyundai's highest-volume U.S. retailer as of Sept. 30.
Both stores were operating today, and a Hyundai spokesman said 80 percent of the company's Eastern Region dealers are expected to be open tomorrow.
According to a Hyundai tally early Thursday afternoon, fewer than 300 vehicles in inventory were reported destroyed by the storm.
In a statement, Krafcik said: "We'll also continue to work with our dealers in areas impacted by Sandy to ensure vehicles lost to the storm are replaced as quickly as possible."
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