Hyundai’s Sale Rose 16% in the US

Hyundai’s Sale Rose 16% in the USThe South Korea manufacturer, Hyundai Motor Co., has reported a rise of 16% in its sale due to sharp increase in the sale of Hyundai Elnatra in the US market. With the new jump, the sale of Hyundai reached an all-time high for the month of June. The sale of Sonata rose 4.9%, while that of Elantra increased 40%.

On Friday, Hyundai has revealed that it has sold 59,209 vehicles in June, up from 51,205 a year ago. Hyundai Motor America CEO, John Krafcik, said that the Hyundai's approach to achieving fuel economy is faster and cheaper, which is good for the US customers and market. He added that the best way to reduce the fuel consumption of the country is to manufacture fuel-efficient vehicles in America. The most efficient technologies include direct-injected engines and 6-speed transmissions.

Last month, Standard & Poor's Ratings Services raised its outlook on Hyundai and South Korea's Kia Motors Corp. to positive, saying that both of these companies are expected to attain tremendous sales growth and gain global market share.

It has also been forecasted that companies will attain improved profitability due to a higher average sales price per unit, fewer incentives and lower inventory positions.