Hyundai, Kia post record July U.S. sales

[NINETY EIGHT REGENCY]

Hyundai, Kia post record July U.S. sales

Ryan Beene

Automotive News -- August 4, 2010 - 10:42 am ET

Hyundai Motor Co. and Kia Motors Corp. each posted record U.S. sales for the month of July.

Hyundai sold 54,106 vehicles last month, an increase of 19 percent compared with July 2009. Last month was also the fourth month ever in which Hyundai sales exceeded 50,000 units.

Dave Zuchowski, Hyundai's U.S. sales boss, noted that Hyundai is continuing to post sales gains even as consumer confidence wanes.

“Consumer demand continues to significantly out-strip product availability at Hyundai dealerships,” Zuchowski said in a statement. “We remain very bullish about our prospects for the second half of this year as we substantially increase production to improve vehicle supply while launching four new products over the next five months.”

Hyundai's July sales increase was linked primarily to higher demand for the redesigned Sonata sedan, and the Elantra. Demand for the new Tuscon SUV more than triple to nearly 3,700 units in July.

Year to date, Hyundai sales are up 24 percent compared with the first seven months of 2009.

Kia also posted a new sales record for July and its second-best sales month ever by selling 35,419 vehicles in July, a 21 percent increase from July 2009.

Kia's 2011 Sorento crossover was the brand's highest-seller at just more than 9,000 units followed by the Soul subcompact, with sales of 8,020 units in July, a 65 percent increase compared to July last year.

Year to date, Kia sales are up 16.3 percent compared to the first seven months of 2009.

“To achieve our second best monthly sales ever following the completion of our highest first half sales is evidence of the impact our new, design-led products are having on the Kia brand,” Byung Mo Ahn, CEO of Kia Motors America, said in a statement.

Read more: http://www.autonews.com/article/20100804/OEM/100809926/1448#ixzz0vgLNxE00