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Hyundai Motor Makes Great Strides in U.S.
Soaring oil prices were no hindrance to Hyundai Motor's conquest of the U.S. market. Korea's largest carmaker said Tuesday sales in the U.S. jumped 9 percent year-on-year to 38,214 units last month. This brought its sales from January through September to 349,195, up about 10 percent from the same period last year.
The popularity of Hyundai's medium-sized and small cars is the driving force behind the Hyundai's stellar performance in the world's largest automobile market, with sales of the Accent sedan soaring a whopping 64 percent on-year in September and the Elantra up 11 percent.
Armed with high quality, Japanese carmakers also did well in the U.S. market last month. Toyota Motor, the No. 1 Asian automaker, saw sales rise 10.3 percent on-year to 178,000 units last month, with its flagship Avalon selling like hot cakes. September sales of Honda Motor and Nissan Motor also rose over 10 percent.
Meanwhile, GM and Ford Motor, the two biggest U.S. automakers, saw sales plummet 24 percent and 19 percent last month.