Hyundai broke onto the American car market as a dark horse at best. Initially considered a flash-in-the-pan that would disappear more quickly than Renault, Hyundai is now looking to pour more than $150 million into expansion projects to handle production demands.
The driving forces behind the Hyundai expansion push are cars that are both affordable and dependable. The 2011 Elantra has a sticker price around $15,000 and the Sonata is sitting close to $19,000. These cars under sell their class competitors by an average of $3,000 while offering the same safety features and, in most cases, better mpg. The low prices make them viable candidates for second chance car financing, as well. After all, we all know that cost of ownership impacts auto loans.
The best part of the expansion plan is that the money is all going into production facilities in the U.S. That means more jobs and a boost to the construction industry. It is always nice to hear about more jobs here in America.