Hyundai Motor and Kia's US Sales in May Down 30%... Genesis Up for 18 Consecutive Months

[Asia Economy Reporter Yoo Hyun-seok] Hyundai Motor Company and Kia's sales volume in the U.S. market in May decreased by 30% compared to the same period last year. However, this is a relatively good performance compared to the average of five companies that disclosed their sales volume. In particular, Genesis maintained its sales growth, marking 18 consecutive months of growth.

According to Hyundai Motor Group on the 2nd, Hyundai Motor sold 63,832 units (including Genesis) in the U.S. market last month, down 31.9% from the same period last year. Kia also sold 57,941 units, a decrease of 27.8%.

Sales declined due to semiconductor supply shortages and lack of available inventory. However, it is evaluated as a strong performance compared to the market. This is because the sales volume of five companies that disclosed their U.S. market sales last month decreased by 37.7% compared to the same period last year.

The companies that disclosed their sales last month were Toyota, Hyundai Motor Company & Kia, Honda, Subaru, and Mazda. Among them, Toyota sold 175,990 units, down 27.3% from the same period last year. Hyundai Motor Company & Kia sold 121,773 units, down 30%. Additionally, Honda sold 75,491 units, down 57.3%, Subaru sold 42,526 units, down 24.8%, and Mazda sold only 15,312 units, a sharp drop of 63.7%.

Hyundai Motor Group also explained that a base effect was observed. In May last year, Hyundai Motor Company and Kia each recorded their highest monthly sales ever. In May last year, Hyundai Motor sold 93,745 units and Kia sold 80,298 units in the U.S. market.

Hyundai Motor's best-selling model was the Tucson, with 14,152 units sold. It was followed by the Santa Fe (10,548 units) and the Avante (7,731 units). For Kia, the Sportage was the best-selling model with 10,363 units sold, followed by the K3 (9,211 units) and the Telluride (7,398 units).

Sales of eco-friendly vehicles increased by 7.1% to 15,498 units. While sales of hydrogen and hybrid vehicles decreased, electric vehicle sales showed strong performance, increasing by 157.4% compared to the same month last year, reaching 5,459 units. The dedicated electric vehicles Ioniq 5 and EV6 sold 1,918 and 2,088 units respectively.

Meanwhile, Genesis sold 4,400 units, an 18.0% increase compared to the same month last year. This marks 18 consecutive months of year-over-year growth.

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