One of the fastest growth spurts in the auto industry could soon come to a screeching halt.
Hyundai’s sales momentum is running into a serious obstacle as the maker slams into severe constraints on production capacity, cautioned U.S. chief executive officer John Krafcik, the maker struggling to free up supplies from Korea and break production bottlenecks at its plant in Alabama.
“This is something you’re going to hear us say over and over again,” he said. “We have about a 32-day supply, which is the lowest industry,” said Krafcik.
During a preview of three new models, Krafcik notd Hyundai had sold more than 60,000 cars in each of the last three months and is on track to do it again during June. And that despite now having the lowest incentives in the industry. But sales would have run even higher had dealers had enough inventory, Krafcik warned.
“We’re pretty well tapped out,” he said, warning that the capacity constraints will continue for awhile.