Hyundai Motor America recently set a sales record with its popular Elantra model, marking an all-time sales record for the year.
The vehicle continues to impress other automakers and the car industry as ALG's compact car residual value leader for three straight years. The Elantra passed last year's total of vehicles sold earlier this month with 186,361 units reportedly sold.
"Adding the third shift to our plant in Alabama this year has allowed us to better meet demand for Elantra," said John Krafcik, president and CEO of Hyundai Motor America. "Elantra buyers love its recipe of ALG-class-leading residual value, bold design, and outstanding value. With a full year of three-shift U.S. production in 2013 we hope to introduce even more American car buyers to Elantra next year."
With a little less than a week left in 2012, the Elantra could also accomplish another feat, becoming the second model to break the 200,000 unit mark in annual sales, which was also accomplished by the Hyundai Sonata.
The Elantra was completely redesigned for the 2011 model, with Hyundai improving the vehicle's fuel economy, which motorists can expect to get around 29/40/ city/highway fuel economy. The safety features on the vehicle also made it an Insurance Institute for Highway Safety Top Safety Pick and it also earned an 8.8 overall rating on U.S. News Ranking and Reviews for its affordability and fuel economy.
Toyota settles legal problems
While Hyundai is celebrating its recent accomplishments with its Sonata and Elantra vehicles, Toyota Motor Corporation has settled major litigation that has involved close to four years of fighting hundreds of lawsuits.
Toyota recently settled a lawsuit for $1.1 billion after auto owners claimed that the value of their vehicles plummeted after there were recalls as a result of unintended acceleration on their vehicles, which caused a lot of potential buyers to avoid securing auto financing with new car dealers to purchase one of the brand's vehicles.
"We kept fighting and fighting and we secured what we think was a good settlement given the risks of this litigation," Steve Berman, a lawyer representing Toyota owners, told The Associated Press.