Hyundai Motor and Kia Surpass Industry Average in U.S. Sales Performance Last Month

Industry Average Expected to Decrease by 20% Compared to October Last Year
Hyundai Motor and Kia Perform Well with 1% and 7.2% Decreases Respectively
Significant Increase in Eco-Friendly Vehicle Sales

[Asia Economy Reporter Ki-min Lee] Despite the prolonged global semiconductor supply shortage, Hyundai Motor Company and Kia achieved performance exceeding the industry average in the U.S. market last month.

Hyundai Motor America (HMA) and Kia America (KA) announced on the 2nd (local time) that they sold 56,761 and 52,067 units respectively in the U.S. market last month. These figures represent a 1% and 7.2% decrease compared to the same period last year.

Although Hyundai and Kia's U.S. sales volume slightly declined compared to last year, their performance is commendable when compared to the forecasted 20% plunge in average automotive industry sales. In particular, Kia's cumulative sales through October have already surpassed last year's total sales.

First, by model, Hyundai recorded its highest October sales for the Venue, Palisade, and Kona, while the Nexo achieved its highest monthly sales.

Retail sales to general customers reached 52,767 units, a 1% increase from last year, marking the highest October retail sales ever. Sales of sport utility vehicles (SUVs), which accounted for 70% of retail sales, increased by 4%. Among these, sales of eco-friendly vehicles such as electric cars surged by an impressive 290%.

Randy Parker, Senior Vice President of Sales at HMA, said, "With strong demand for our product portfolio, we continue to secure significant market share overall."

For Kia, KA explained that the SUV Telluride and sedan Forte drove sales performance. Sales of hybrid and electric vehicles also continued to grow, increasing by 91% compared to the same period last year.

Eric Watson, Vice President of Sales at KA, stated, "As proven by selling more vehicles in the first 10 months of this year than last year's total, demand for new Kia vehicles remains high. Despite ongoing supply chain issues and semiconductor shortages, available supply and strong customer interest will help achieve robust year-end results."

This content was produced with the assistance of AI translation services.