Hyundai slaps major dealer cash on the hood of the Sonata

The Korea Times reports that Hyundai is offering up $2,000 to its dealers for every Sonata they can move off the lot. Sure, it's not the $10,000 Volkswagen was using to bribe its U.S. dealers to sell the unpopular hunk of metal that is the Phaeton, but 10 percent of the Sonata's asking price is still pretty significant. Samsung Securities, a brokerage house, said the high incentives could result in a lack of profitability for the automaker, but other analysts point to similar practices by Toyota and Honda as well as the automaker's growing market share to argue that it's not a big deal in such a competitive market.

Hyundai is currently clawing and scratching striving for the ranking of seventh largest automaker in the world.

[Source: The Korea Times]