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Hyundai Expanding Fountain Valley Headquarters

Hyundai Motor America Inc. is looking to double the size of its Fountain Valley headquarters.

The automaker, part of Hyundai Kia Automotive Group, said Wednesday it plans to invest $150 million in the project and increase the facility to 500,000 square feet.

Construction is planned to begin middle of 2011 and expected to be completed by the latter part of 2012.

Hyundai is also expected to up its staff to 1,400 workers. The automaker is the largest automaker with operations here with 910 workers according to the Business Journal’s March list of the largest automakers operating here.

Hyundai workers will work in temporary office space in Orange County during the construction, the company said.

The Los Angeles Economic Development Corp. estimates the headquarters project will have a total economic impact of $273 million.

“The investment ensures Orange County will remain Hyundai’s U.S. hub, with our headquarters in Fountain Valley, for the foreseeable future,” said John Krafcik, chief executive.

Hyundai saw declines in August sales as part of a larger industry hiccup resulting from the government’s “cash for clunkers” program a year ago after months of year-over-year gains.

The automaker saw an 11% decline from a year earlier to 53,603 vehicles sold in August.

It marks the first decline in sales for the automaker after nearly 20 consecutive months of increased sales.

Hyundai set sales records in August 2009 with several of its vehicle models qualifying under the government’s “cash for clunkers” program which allowed consumers to trade in older vehicles for newer fuel efficient models.

For the 12 months through August, Hyundai, the largest automaker with operations here, sold 363,491 vehicles, up 17%.

Even with decline in monthly sales from a year earlier, Hyundai grew its market share to 5.3% from nearly 4% a year ago, as its sales fell less than other automakers.

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