Hyundai, its luxury brand Genesis and corporate cousin Kia saw their sales momentum fade as the U.S. economy shut down in response to the coronavirus crisis. But all three brands are working with dealers to sell as many vehicles as possible by offering aggressive incentives and maintaining an inventory pipeline from South Korea.
Hyundai suspended operations at its Montgomery, Ala., plant in mid-March following a confirmed case of COVID-19 in its work force, and Kia halted assembly in West Point, Ga., in late March to protect workers. Both plants are scheduled to resume operations Monday, May 4. Auto plants in Korea are functioning but have rolling downtime because of soft demand.
All three Korean brands in the U.S. offer 0 percent financing for 75-plus months, along with deferred payments for new buyers and existing customers. Hyundai has resumed its Assurance job-loss protection program, offering up to six months of payments to buyers who later lose their jobs. Genesis has its own version of the program.