Hyundai Motor Co.'s (HYMLY, 005380.SE) U.S. auto sales rose 7.8% in November as the South Korean manufacturer's Sonata and Elantra sales increased by double-digit percentages.
Broadly, Edmunds projected that U.S. auto sales would increase 11% in November from a year ago, or 1.4% from October, helped by the aftermath of superstorm Sandy.
"With increased Elantra availability, thanks to the recently added third shift in our Alabama plant, and demand high for everything in our lineup from Accent to Equus, we're looking forward to breaking our all-time annual sales record early in December," said Hyundai Motor America President and Chief Executive John Krafcik.
Hyundai has capitalized on a lineup of vehicles that are fuel efficient and relatively low-priced compared with models by Hyundai's peers. Hyundai has seen its market share jump as it draws more customers from Japan's top auto companies.
For November, Hyundai reported that it sold 53,487 vehicles in the U.S., up from 49,610 a year earlier, and 6.4% higher than October's total of 50,271.
November had 25 sales days, the same as a year ago.
Sales of the Sonata, Hyundai's most popular vehicle in the U.S. last month, rose 13%. Tuscon sales were down 6.4% while Accent sales were down 30%. Elantra sales grew 28%, while Azera sales climbed to 751 units.
Hyundai's American depositary shares closed Friday at $37.85 and were inactive premarket. The stock is down 59% so far this year.
Write to Kristin Jones at [email protected]
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