Hyundai Motor and Kia's February US Sales 'Stumble' Due to Cold Wave and Reduced Business Days

Hyundai Motor Company and Kia's February sales in the U.S. market decreased due to the cold wave and a reduction in business days. Hyundai and Kia announced on the 3rd that their February U.S. sales totaled 98,797 units, down 7.5% compared to the same month last year.

By brand, Hyundai (including Genesis) sales decreased by 7.1% to 50,735 units, while Kia sales dropped 7.9% to 48,062 units. However, Genesis sales increased by 51.4% year-over-year to 2,402 units. This is attributed to the launch effect of the GV80 (1,283 units).

The apparent reason for the slowdown in Hyundai and Kia's U.S. sales, which had been rapidly growing, is the decrease in business days. In February, the number of business days decreased by two compared to the previous year, and weekend sales days also decreased by one. According to Automotive News, with fewer business days than the previous year, the overall U.S. auto market's February sales declined by approximately 9-11% year-over-year. However, Hyundai and Kia's daily sales volume showed a slight increase. According to Hyundai Motor America (HMA) and Kia Motors America (KMA), daily sales increased by 9% for Hyundai and 2.4% for Kia.

The severe cold wave that hit the U.S. also had a significant impact. Randy Parker, Senior Vice President of HMA, stated, "There was an impact on logistics and vehicle sales due to weather conditions in some regions," adding, "We expect sales to recover over the coming months."

Meanwhile, sport utility vehicles (SUVs) continued to show strong performance by model. Hyundai and Kia's SUV sales reached 65,141 units, a 1.5% increase year-over-year despite the overall decline in total sales. This accounts for 66% of total sales.

In particular, Hyundai saw sales increases led by the Santa Fe (up 26%), Venue (13%), Tucson (9%), and Kona (4%). Kia also reported that the popular Telluride continues to enjoy high demand, with an average turnover rate of 12 days.