Wall Street Journal - Hyundai Unveils New Elantra

LOS ANGELES—Hyundai Motor Co. on Thursday took the wraps off a new fuel-efficient compact car in a bid to spur even faster sales in the U.S. market.

The Korean car maker said its redesigned Elantra model boasts a highway fuel efficiency rating of 40 miles per gallon, among the best in its class.

The 1.8 liter engine compact, priced to start at $14,830, will be made at the company's factory in Montgomery, Ala. The Elantra is Hyundai's third U.S.-made model.

The debut of the car, which took place at the Los Angeles Auto Show, caps what Hyundai expects will be a record year for its U.S. sales.

Despite slow growth in the industry as a whole, the Seoul-based company is on track to exceed its previous all-time sales high in the U.S. of 467,009 vehicles in 2007.

"We've bucked the trend by growing our retail volume," said John Krafcik, Hyundai's U.S. chief, speaking at a press conference on the floor of the auto show.

Mr. Krafcik said the Elantra would be one of four models in Hyundai's lineup next year that would be able to get at least 40 mpg on the highway.

The design of the compact car follows the basic motif established with Hyundai's midsize Sonata, sedan using sweeping curves along the sides of the car. The company says the Elantra model's interior space is the size of many larger, midsized vehicles.

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