Hyundai & Nissan Find New Avenues To Boost Sales

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Auto sales have been sluggish and to counter it, Hyundai and Nissan turn to rental companies to turn the tide on sales and profit.

As the U.S. demand for auto fell by 5.8 percent in October, two big Asian automaker Hyundai and Nissan have managed to outperform the industry. They have sharply increased their sales to rental car agencies.

Nearly 270,000 Hyundai and Kia vehicles have ended with the rental agencies as fleet cabs this year, 57,000 more than last year at the same time, that is a 27 percent increase.

Nissan on the other hand, has sold 65,000 more to rental fleet vehicles this year and an increase of 39 percent compared to the previous year.

Driving the sales especially with the rental agencies, Nissan's Altima in now the top rental car in America, with one-third of Altima's sold through June.

Meanwhile, Hyundai more than doubled its Sonata Sedan to rental agencies in the first half of 2016, which comes as the third most sold car after Toyota Camry.

As per reports, sales of cars to rental agencies through June, 24.3 percent of Hyundai were rental cars and 21.2 percent of Nissan rental cars.

Fiat Chrysler to sold 21.2 percent of cars to rentals, while Ford sold 15.2 percent, 11.1 percent of Toyota and 10.3 percent of General Motors to the rental agencies.

Rental fleet cabs have been on rise globally and automakers are concentrating on this segment to drive sales.

Also, many of the customers are opting for crossover vehicles and dumping the sedan for utility vehicles. Automakers are turning to rental agencies to dump their sedans.

Read more on: #auto news #hyundai #nissan
Story first published: Monday, November 7, 2016, 12:07 [IST]
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