Hyundai, Ford Post Sharp Increase as US Auto Sales Boom

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US auto sales in August boomed with Korean auto maker Hyundai and American automotive giant Ford Motor Co posting a sharp increase in profits.

However, the increase in the demand has left out General Motors out cold with sales still in limbo after its first month out of bankruptcy.

Korean carmaker Hyundai and US auto giant Ford Motor Co on Wednesday posted a sharp increase in its revenue as the sales US auto industry increased drastically in August.

However, despite the successful implementation of the “cash for clunkers” stimulus package of the Obama-administration, another US automaker General Motors Co failed to make the most out of the strong demand for new vehicles. It was the first month for GM outside the restriction of bankruptcy.

Based on records, Ford gained as much as 17 percent in its sales in August as consumers flocked in their showrooms with the help of the government incentive program for the auto industry.

Meanwhile, Korean-based Hyundai said that it has registered some 47 percent increase in its sales with the Elantra sedan making a powerful comeback.

Japanese carmakers Honda Motor Co and Toyota Motor Corp also benefited from the “cash for clunkers” program, which was initiated by the Obama-administration. The Honda sales increased by as much as 10 percent while Toyota registered about six percent.

On the other hand, two other American auto names failed to make the most out of the August sales bonanza as both GM and Chrysler sales dropped by 20 percent and 15 percent, respectively.

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Hyundai, Ford Post Sharp Increase as US Auto Sales Boom

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