Hyundai and Kia, deftly navigating the supply crunch that has upended the industry as the economy reopens in the wake of the pandemic, set U.S. sales records for the third straight month in May, helped in large part by robust retail demand for light trucks.
Volume jumped 56 percent to 90,017 at Hyundai and 75 percent to 80,298 at Kia, compared with May 2020, when the nation was still hunkered down in the early months of the outbreak. Kia noted “significantly accelerated showroom traffic” over the Memorial Day holiday as consumer activity rebounds and restrictions on households lift.
Hyundai said retail demand also set a monthly record of 84,351 in May, for a gain of 54 percent. Fleet shipments increased 95 percent and represented 6 percent of total volume, or about 5,400 units, Hyundai said.
“Consumer demand across the Hyundai lineup remains strong and we continue to work closely with our manufacturing and supply chain partners to meet this extraordinary demand,” Randy Parker, senior vice president for national sales at Hyundai Motor America, said in a statement.
At Genesis, the introduction of the new GV70 crossover helped the brand’s utility vehicles continue to outsell combined deliveries of its three sedans. The GV80 set a monthly record — 2,037 units — helping to push the brand to a gain of 176 percent on overall sales of 3,728.
U.S. light-vehicle deliveries are forecast to continue a sharp rebound in May – up nearly 40 percent according to projections — even as inventories continue to fall because of tight microchip supplies.
Toyota Motor Corp., Honda Motor Co., Subaru, Mazda and Volvo are expected to release May sales later Wednesday. Ford Motor Co. will report results for the month on Thursday.
