Hyundai and Kia Motors slumped in the US market in June as well. Hyundai’s sales dropped 20%.
According to Hyundai and Kia Motors, Hyundai (005380) (158,500 won 5,000 -3.06%) sold 50,477 units in June in the United States. It was 19.3 percent less than the same period last year. Kia’s sales also fell by 10.3% to 56,143 units compared with the previous year.
In June, overall demand in the US market shrank 2.9% YoY, but Hyundai and Kia’s decline was even worse.
Hyundai Motor’s sales of Tucson and Accent grew 60.2% and 39%, respectively, but other major models such as the Santa Fe and Sonata Elantra were sluggish.
Kia Motors has been selling the Forte (K3) Optima (K5) and Cadenza (K7) sedans, but its RV sales have been sluggish, including the Sportage Sorento.
As a result, the market share in the US decreased by 0.3 percentage points from 7.5 percent in the case of Hyundai Motor (3.7 percent) and Kia Motors (3.8 percent).
Meanwhile, Hyundai and Kia’s US sales in the first half of this year totaled 642,096 units, down 8.6% from the same period last year. Hyundai Motor dropped 34% to 346,360 units, down 7.4% from the previous year, while Kia Motors dropped 29.9% to 295,736 units. XML: Y