"The fact that Hyundai has taken the time to significantly invest from A to Z makes me really, really proud to be part of this car company," said Randy Parker, vice president of national sales, who joined the brand from Nissan in May. "They're not taking their foot off the gas. They're going to stay in every one of these segments, and they're going to invest heavily in those segments to ensure that we have the best product offering for the customer."
"All of the SUVs is what is really fueling our growth. Santa Fe is selling well, Tucson is selling well, Kona is selling well, Kona EV is selling well, Palisade has just been a smash hit; can't keep them in stock," Parker said at the show. "Venue will be additional growth for us next year. It's also going to come from Sonata — we haven't given up on the passenger-car side of the business. The new Sonata is super impressive."
Hyundai's growth will come at the expense of other automakers, but not through an increase of incentives, greater fleet sales and other tricks of the trade to get a temporary volume boost while damaging the long-term value of the brand. Parker said Hyundai is posting lower incentives, reduced fleet sales and greater residual values as it focuses on fresh product to attract new customers and keep current ones.
"Rather than putting numbers on a page and targets, our goal really is all about sustainable growth, and that's really what we're focused on. We're growing right now in a down market, which is good. And if the market picks up next year or the year after or the year thereafter, we're going to be in a very good position because of our product portfolio," Parker said. The brand is up 3.3 percent so far this year.
And going forward, Parker said, Hyundai will be quick to update its vehicles on a regular basis to keep them fresh and appealing. "It's so cool to see that Hyundai will maneuver super fast to ensure that we've got the right product at the right time, with the right technology and with the right design," he said.