Hyundai: We're more American than Detroit
SEE ALSO: Vehicles Made In The USA? CNNMoney Quiz
SEE ALSO: Hyundai Buyers Guide
Washington DC October 21, 2010; The AIADA newsletter reported that the CEO of Hyundai's U.S. arm told CNNMoney that by next year about 80 percent of the vehicle's Korean automaker Hyundai sells in the United States will be built here.
That percentage would likely put Hyundai at the top of the "Made in the USA" rankings among all automakers operating in the U.S., including Ford, Chrysler, and General Motors.
Considering its fast-moving success in the American market, Hyundai American chief John Krafcik pointed out that Hyundai plans to move production of its popular Elantra from Korea to the automaker's Montgomery, Ala., plant later this year.
"I'm going to build my three best-selling cars in the U.S.," Krafcik said. "Ford builds its best-selling car in Mexico."
The Elantra is Hyundai's second most popular model. The Hyundai Sonata mid-sized sedan, Hyundai's biggest seller, and the Santa Fe SUV, which together make up half of Hyundai's U.S. sales, are already built here. Click here to test your knowledge of vehicles built in the U.S.
For international automakers, making cars in the U.S. provides two big benefits. For one, it protects them against changes in the value of their own currency relative to the dollar. Second, it makes it easier to adjust to rapid shifts in consumer demands.
Click Here for more on Hyundai’s plans to build more of its vehicles in the U.S.