Hyundai President & CEO John Krafcik Challenges Industry To Defy Convention
During 2013 NADA Keynote
COSTA MESA, Calif., Feb. 9, 2013
COSTA MESA, Calif., Feb. 9, 2013 /PRNewswire/ -- Addressing a packed house of
U.S. automotive dealers, Hyundai President & CEO John Krafcik delivered the
industry keynote address at the 2013 NADA Convention and Expo Saturday
afternoon. Krafcik encouraged the industry to defy conventional wisdom and
touched on the ways Hyundai and its dealers have taken unconventional
approaches with its design, retail processes, and premium products. Krafcik
also spoke to the entrepreneurial spirit of dealers and the critical role they
play in leading innovation in the auto industry.
Krafcik opened by complimenting the industry on its recent achievements and
affirmed his confidence in the automotive retail model. "You provide jobs,
provide a stable tax base and contribute to philanthropic causes in your local
communities across the country. Yet it seems like every day someone is bashing
the U.S. automotive retail system as being out of touch or inefficient. From
our perspective at Hyundai, the franchised dealer system in the U.S. works
because it's the concentrated distillation of another system that we know
works. One that's been proven over the last couple of centuries -- the
American free enterprise system."
Following examples of the way Hyundai is creating a more open and transparent
relationship with its dealers, Krafcik commented on Hyundai's philosophy of
defying convention. "We like to say that when the whole industry moves to the
left, we'll have a look in that direction, but we'll look even more intently
at the opportunities on the right. From our point of view, that's leadership.
We've distilled that philosophy into a three-word mantra: defy, design,
delight." Krafcik cited Hyundai's all-four-cylinder engine approach with
Sonata and its unconventional premium product retail strategy with Genesis and
Equus as examples. Keeping Hyundai's premium products under the Hyundai banner
paid off, resulting in stronger buyer demographics and a nine percent market
share in the premium segments in which it competes.
Krafcik concluded by offering a glimpse into Hyundai's future premium product
design direction with the recently unveiled HCD-14 Genesis Concept and how he
thinks the industry can overcome future challenges. "At Hyundai, we know our
success is a direct function of your efforts, and your achievements. Your
skill and commitment, and your entrepreneurial spirit, give me confidence that
going-forward, as an industry, we'll continue to defy conventional thinking,
and delight consumers in ways that we can't even imagine today."
For Krafcik's complete remarks visit www.hyundainews.com.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Costa Mesa, Calif., is a subsidiary of
Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the
United States by Hyundai Motor America and are sold and serviced through more
than 820 dealerships nationwide. All Hyundai vehicles sold in the U.S. are
covered by the Hyundai Assurance program, which includes the
5-year/60,000-mile fully transferable new vehicle warranty, Hyundai's
10-year/100,000-mile powertrain warranty, and five years of complimentary
For more details on Hyundai Assurance, please visit www.HyundaiAssurance.com
Please visit our media website at www.hyundainews.com and our blog at
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SOURCE Hyundai Motor America
Contact: Chris Hosford, +1-714-965-3470, email@example.com
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