Tuesday, November 10, 2009

Hyundai Motors Marked 48.9% Growth in October Sales in the US

Hyundai Motors experienced a surge in its October sales in the US market. In fact, their 48.9% year-on-year growth in October has been highest among the Asian automakers. The South Korean company has sold 31,005 units in October, a sharp increase from 20,820 vehicles sold during the same month last year. Dave Zuchowski, the vice president of sales in Hyundai, hopes that November and December sales will be very good for the company.

With US economy is recovering strongly following a devastating recession, US auto industry is now in its way to make a turnaround. Reports available in the media indicate a GDP growth of 3.5% in US economy in the third quarter of the year. Kia Motors Corp., the affiliate of Hyundai, has also recorded a 45% growth in October sales. Largest automaker Toyota has seen just 1 percent increase in its sales last month, while Nissan Motors projected a 5.6 percent increase in its monthly sales in October. However, Honda’s October sales decreased 0.4%.

However, overall the market is gradually becoming stronger with demands soaring up ahead of Christmas.

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