Hyundai decides to suspend truck sales
Dec 19, 2003 12:00 PM, from staff and wire reportsCiting the difficulties in being a new entrant in a softening and competitive market, Hyundai Truck America (HTA) will suspend sales operations by the end of 2003. However, an office will be established in Jamesburg NJ to facilitate availability of parts, warranty repairs, and technical information for owners of Hyundai and Bering trucks custom-manufactured by Hyundai for the now-defunct Bering.
The company, a subsidiary of South Korea's Hyundai Motor Co, began marketing Class 4 and 6 cab-over-engine (COE) trucks earlier in 2003. Due to the high costs of market penetration in the medium-duty market, particularly with reduced demand for COE designs, Hyundai found it difficult to build a dealer network of sufficient size and obtain committed favorable vehicle financing. HTA does not think the situation will significantly change in the near term to warrant continuing the investment.