Korean automaker Hyundai Motor Co. raised its 2011 U.S. sales forecast to 624,000 units, higher by 16% than last year. In 2010, the U.S. sales of the Hyundai brand increased by 24% to a record high of 538,228 units.
Sales through May are up 29% to 263,588 vehicles. In a Reuters report, it was revealed that Kia Motors also raised its 2011 U.S. sales forecast to 433,000 units. This signifies a 21.5% jump from U.S. sales last year of 356,268 vehicles.
Kia’s sales through May are 45% higher to 200,060 units when compared to the previous year. Hyundai released a statement, saying that the higher sales target was brought on by the strong demand for current and future vehicles.
The vehicles that have recently debuted include: the redesigned Elantra compact, the 2012 Accent subcompact, a refreshed 2012 Genesis luxury sedan. The new 2012 Veloster sports coupe and an updated Equus full-sized luxury car are expected to make their debut by the end of the year.
Last January, Hyundai Motor America said that production difficulties would limit U.S. sales to about 600,000 units. Earlier this month, Mike O'Brien, Hyundai Motor America's vice president of product planning, said that Hyundai's 2011 U.S. sales would exceed its January estimate.
However, no specific figures were mentioned. O'Brien said that sales of the 2012 Accent are predicted to exceed the internal forecasts made earlier. Hyundai has raised output of the Sonata mid-sized sedan and Elantra at its Montgomery, Ala., assembly plant.