DETROIT (Reuters) - Hyundai Motor Co (005380.KS: Quote, Profile, Research, Stock Buzz) expects industrywide U.S. auto sales to decline further in the fourth quarter as financial market turmoil adds to consumer uncertainty, its U.S. sales chief said on Tuesday.
David Zuchowski, vice president of Hyundai Motor's North American sales, said at the Reuters Autos Summit in Detroit that U.S. auto sales are tracking below 10 million units on an annualized basis for the first 10 days of September, and would likely end the month at a rate of as low as 12 million units. That compares to a rate of 13.7 million units in August.
Zuchowski said the world's largest vehicle market would remain almost flat at 14 million units next year after sales of 13.9 million units this year.
But he said Hyundai could sell up to 475,000 vehicles in the U.S. this year, up from 467,000 in 2007, as it increases its share in a tough market thanks to its focus on smaller, fuel-efficient vehicles.
(For summit blog: summitnotebook.reuters.com/)
(Reporting by Soyoung Kim)
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