'Successful' Hyundai Motor and Kia, First Monthly Sales of 150,000 Units in the US After 35 Years (Comprehensive)

Record Highest April Sales Ever... 127% Increase Compared to Last Year
SUV Rapid Growth and Genesis Brand Localization Strategy Effective

[Asia Economy Reporter Ki-min Lee] Hyundai Motor Company and Kia Motors have surpassed 150,000 units in monthly sales in the U.S. market for the first time in 35 years since their entry last month. This was the result of increased vehicle purchases due to the base effect of COVID-19, with sports utility vehicles (SUVs) and Hyundai's luxury brand Genesis being favored by local consumers.

On the 4th, Hyundai Motor Group announced that Hyundai Motor Company (including Genesis) and Kia sold 150,994 units in the U.S. last month, a 127.1% increase compared to the same period last year. This is the first time monthly sales in the U.S. market have exceeded 150,000 units since Hyundai entered the U.S. market in 1986, marking a record for two consecutive months following the 144,932 units sold in March.

Hyundai Motor Company sold 80,817 units last month in the U.S., a 132.4% increase from April last year, while Kia sold 71,177 units, up 121.3%. Fleet sales, which supply corporations and rental car companies, decreased by 27%, but retail sales to general customers (74,978 units) increased by 146%, driving the performance. Hyundai sold 14,249 units of the Avante and 10,470 units of the Santa Fe, while Kia sold 12,504 units of the K3, 10,040 units of the Sorento, and 9,626 units of the K5. Hyundai’s Tucson (16,901 units), Genesis GV80 (1,895 units), and Kia K3 recorded their highest monthly sales ever.

It is no exaggeration to say that Hyundai Motor Company and Kia’s sales record was led by SUVs. Last month, Hyundai and Kia sold approximately 92,007 SUVs, an increase of about 137% year-over-year, accounting for nearly 60% of total sales. Hyundai’s SUV sales last month surged 136.8% from April last year to 50,447 units, while Kia’s SUV sales rose 137.3% to 41,560 units. Genesis also saw a 308.7% increase, selling 3,294 units, boosted by the sharp rise in sales of the GV80 SUV.

The high growth rate is also attributed to the base effect caused by factory shutdowns and sluggish sales in April last year. Hyundai and Kia’s sales last month increased by 39.3% compared to April 2019. Moreover, six other automakers including Volvo, Toyota, and Honda, which announced their sales performance, also recorded more than a 100% increase in U.S. market sales compared to last year.

Hyundai and Kia’s total U.S. sales from January to April this year amounted to 485,896 units. During this period, Hyundai sold 256,169 units, a 51% increase year-over-year, and Kia sold 229,727 units, up 35.4%. Genesis also sold 11,516 units, a 141.9% increase compared to last year.

Randy Parker, Senior Vice President of Sales at Hyundai Motor America, said, "Following March, we set monthly records for total and retail sales for two consecutive months," adding, "This is the result of efforts across all organizations including manufacturing, logistics, sales, marketing, and dealership operations."