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Hyundai Motors Posts Record First Quarter Sales

Seoul, South Korea – Hyundai boasted today of record first-quarter sales for its new models - the luxury Genesis sedan, the i30 hatchback and i10 minicar.

Hyundai operates a sprawling auto assembly plant in Montgomery.

The company said it sold more than 712,500 vehicles in the first three months of 2008, for a gain of 16.4 percent from the same period last year.

The South Korean automaker said besides being its best total ever for a first quarter, the sales figure marked the first time the company sold 700,000 vehicles in the first three months of a year.

A Hyundai spokesman said that the figures are based on wholesale sales to dealers.

Hyundai said that despite weakness in the U.S. economy and high gas prices it expects to achieve sales of 3 million vehicles this year.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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