Hyundai has announced that its all new 2011 Elantra will reach the magic 40 mpg mark. According to Autoblog, the Elantra is powered by a brand new 1.8-liter “Nu family” engine that generated 148hp at 6,500 rpm and 131 pound-feet of torque at 4,700 rpm.

Motor Trend reports that these power figures and fuel economy are achieved using a 10.3:1 compression ratio and traditional port fuel injection. Direct injection is no doubt a feature that will be added down the road and should further improve power and fuel efficiency.

The resultant fuel economy is 29 in the city and 40 mpg on the highway. Those figures are for all models of the Elantra, and not just specific trim levels like the Cruze Eco. Hybrid figures on other Hyundai models, including the Hyundai Santa Fe, are being touted as some of the best for 2011.