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Hyundai, Kia US sales fall 15 pct in May

All News 09:46 June 02, 2017

SEOUL, June 2 (Yonhap) -- Hyundai Motor Co. and its sister company Kia Motors Corp. said Friday their combined sales in the U.S. market fell 15 percent on-year last month.

In May, Hyundai and Kia, South Korea's two largest carmakers, sold 60,011 vehicles in the North American country, down from 71,006 units a year earlier, the companies said.

The dip comes as the two were cited for lagging behind their rivals in the world's most important automobile market in terms of incentives and new models. Moreover, the U.S. market is very competitive and facing an oversupply, industry sources said.

In the January-May period, Hyundai's U.S. sales fell 4.8 percent on-year to 291,853 units and Kia's U.S. sales plunged 9.8 percent to 239,593 units, the companies said.

For the first five months, Hyundai sold a total of 1.82 million autos around the world, down 6.5 percent from a year earlier. Kia's overall sales fell 8.5 percent to 1.09 million during the same period.

Hyundai and Kia are flagships of Hyundai Motor Group, the world's fifth-largest automotive conglomerate in terms of sales. They aim to sell a combined 8.25 million vehicles this year, up from 7.9 million autos sold globally in 2016.

Hyundai, Kia US sales fall 15 pct in May - 1


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