Allison-Equipped Hyundai County Bus Records Growth of 19 percent Year Over Year in Jeju-do
Increased sales of Hyundai County were influenced by increased travel demand during COVID-19
SEOUL, South Korea, April 2021 – A total of 23 Hyundai County buses equipped with Allison Transmission’s T1000 model were registered in Jeju-do in 2020. According to Kaizuyu Data Laboratory this marks a 19 percent increase from 2019 and
County registrations accounted for nearly half (48 percent) of the total light buses registered in Jeju-do.
According to the Jeju Tourism Association, more than 10 million tourists visited Jeju-do last year. Although this is a 33 percent decrease from 2019, the travel industry believes that it was a reasonable record considering that the industry as a whole
had a tough time last year due to COVID-19. The Hyundai County was sold mostly for sightseeing in Jeju-do last year.
Hyundai County buses equipped with Allison Automatics have better maneuverability, fuel efficiency, and economic feasibility than manual transmission vehicles. Since automatic vehicle drivers do not have to operate clutches and change gears, they feel
significantly less fatigue than manual vehicle drivers even if they drive for a long time.
In addition, Allison’s fully automatic transmission has good fuel efficiency since it makes optimal gear changes based on accumulated data over a long period of time. In terms of maintenance, the automatic vehicle only needs to be serviced regularly with
Allison-approved fluid. Also, unlike manual vehicles, there is no need to replace clutch or brake-related parts.
"As many tourists who could not travel abroad visited Jeju-do last year, demand for County serving the sightseeing purpose has increased,” said Kyoungmee Lee, Regional Director of Allison Transmission Korea. "Since customers are expected to find more
economical and productive transmissions during the post-COVID-19 era, we plan to conduct business activities around major cities across the country.”
Apr 15, 2021
Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements, including all statements regarding future financial results. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plans," "project," "anticipate," "believe," "estimate," "predict," "intend," "forecast," "could," "potential," "continue" or the negative of these terms or other similar terms or phrases. Forward-looking statements are not guarantees of future performance and involve known and unknown risks. Factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made include, but are not limited to: risks related to our substantial indebtedness; uncertainty in the global regulatory and business environments in which we operate; our participation in markets that are competitive; the highly cyclical industries in which certain of our end users operate; the failure of markets outside North America to increase adoption of fully-automatic transmissions; the concentration of our net sales in our top five customers and the loss of any one of these; future reductions or changes in government subsidies for hybrid vehicles and other external factors impacting demand; U.S. defense spending; general economic and industry conditions; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments and changing customer needs; risks associated with our international operations; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers; our intention to pay dividends and repurchase shares of our common stock; and other risks and uncertainties associated with our business described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this press release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.
SOURCE Allison Transmission Holdings Inc.