Earlier this year, Hyundai Motor Co. competed with Toyota Motor Corp.’s and Honda Motor Co.’s midsize-sedan sales in the U.S. The company aims to increase its share of the small-car market by introducing one its newest designs: a more fuel-efficient and restyled Elantra.
Yesterday at the Los Angeles Auto Show, Hyundai’s U.S. chief executive officer John Krafcik told reporters that the new 2011 Elantra sedan will deliver 40 miles per gallon in highway driving and 29 mpg in the city. The 2011 Elantra with its remarkable fuel efficiency will be on sale early next year.
This year, Hyundai’s U.S. sales have risen by up to 21 percent, aided by the 64 percent boost in sales of the mid-sized Sonata. Meanwhile, the top-selling passenger car, Toyota’s Camry, have dropped 6.3 percent and the Honda Accord has fallen 3.4 percent.
Hyundai’s U.S. sales this year topped its previous record of 467,009. This is mainly backed up by Hyundai’s strategy of enhancing its designs, gaining higher fuel efficiency and often lowering price offers than its competitors.
George Kang, an analyst for industry researcher Edmunds.com, stated that the Elantra will be set apart from the others due to its cutting-edge style which would appeal more to the public. He also said that the public is ready for something interesting and more dynamic than yesterday’s plain old vanilla.
The Elantra with a 1.8-liter engine and six-speed transmission ranges from $15,550 and its Limited Premium model tops out at $22,700. Krafcik said that in 2011, Hyundai may lead the industry in sales of vehicles that get at least 40 miles per gallon, with the Elantra and the new Sonata hybrid scheduled to be released next year.
Krafcik also stated that Hyundai Motor Co. aims to set the trajectory for fuel economy improvement in the car industry. This year, Hyundai also planned to boost the efficiency of its fleet to an average of 50 mpg by 2025. For this to happen, Krafcik said that rather than relying on electric-drive systems, Hyundai will focus mainly on improving gasoline engines.
