Hyundai/Kai October U.S. sales continue decline
The Genesis brand continued to gain momentum with a 49 percent gain in October.
UPDATED: 11/2/17 3:28 pm ET – adds U.S. marketshare details
Ongoing cuts in fleet shipments led Hyundai-Kia to post a 13 percent drop in October U.S. sales on volume of 97,407 light vehicles. For the first 10 months, the automaker’s U.S. sales are down 10 percent. The Hyundai brand’s fleet sales fell 23 percent last month compared to October 2016.
Brands: Hyundai down 16%, Genesis up 49%, Kia down 9.4%.
Notable nameplates: Hyundai Sonata down 49%, Hyundai Veloster down 83%, Hyundai Santa Fe up 15%, Hyundai Tucson up 8%, Kia Soul down 29%, Kia Sorento down 15%, Kia Sportage up 4.1%, Kia Optima down 24%, Kia Forte up 15%.
Incentives: Hyundai was $2,802 per vehicle, up 14% from a year earlier, and Kia was $3,915 per vehicle, up 25% from a year earlier, according to ALG.
Average transaction price: Hyundai was $22,765, up 0.7% from a year earlier, and Kia was $21,817, down 2.8% from a year earlier, according to ALG.
U.S. market share: 7.2% last month vs. 8.1% in Oct. 2016; 7.5% year to date vs. 8.2% through Oct. 2016.
Quote: “With two months remaining in the year, our focus is on maintaining retail market share and working closely with our dealers for a strong close to 2017,” said John Angevine, director of national sales for Hyundai Motor America.
Did you know: The Hyundai brand set an October U.S. sales record of 62,505 in 2016, making for a tough comparison to last month.