As of late, the name of the game in the automotive industry is fuel efficiency.
Much of the automotive industry is on a bit of an uptick after several months of strong performances in
car leasing and sales spurred on by vehicle incentives, and low interest loans. Korean automakers Hyundai and Kia are among those brands celebrating this newfound success, as both posted record breaking sales and leasing in the month of July.
Hyundai, the world's fourth largest automaker, sold more than 54,100 vehicles last month, marking a notable increase of 19 percent year over year. These markets also gained significance within the company, as only the fourth month in the brand's history in which it sold more than 50,000 units, according to the Automotive News.
"Consumer demand continues to significantly out-strip product availability at Hyundai dealerships," Dave Zuchowski, Hyundai's head of U.S. sales, 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 fellow Korean automaker, Kia, also posted strong sales, with more than 35,400 vehicles sold in July - the company's second best month of all time, and a 21 percent increase over the previous year.
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