Hyundai Motor America and Kia Motors America on Tuesday reported sales increases for November as new large crossovers continue to boost the two Korean siblings' performance.
The Hyundai brand reported a second consecutive month of double-digit retail sales growth — 19 percent in November — while overall volume rose 6.2 percent to 60,601. Its overall crossover volume grew 24 percent, led by incremental volume from the Palisade and increases by the Tucson and Santa Fe. Its higher-volume car models, the Elantra and Sonata, however, declined.
Genesis, Hyundai Motor America's luxury brand, saw its sales more than quintuple to 2,167 as it builds its U.S. dealership network.
Kia's sales jumped 12 percent as the large Telluride crossover — the Palisade's twin — had its best sales month, with 6,824 deliveries. The Sportage crossover saw a 17 percent increase. Car models such as the Forte and Optima slipped.
Brands: Hyundai, up 6.2%; Kia, up 12%; Genesis, up 420%
Notable nameplates: Hyundai Tucson, up 0.8%; Sonata, down 27%; Elantra, down 4.6%; Kona, up 0.3%; Santa Fe, up 8.3%; Palisade, 5,268 units; Venue, 290 units; Kia Sportage, up 17%; Sorento, up 11%; Optima, down 1.5%; Niro, up 14%; Forte, down 21%; Soul, down 23%; Telluride, 6,824 units; Genesis G70, up 801%; G80, up 278%
Incentives: Hyundai spent $2,584 per vehicle, up 2.1% from a year earlier, ALG says. Kia spent $3,549 per vehicle, a 5.7% increase.
Average transaction price: Hyundai was up 10% to $24,817, compared with a year ago, ALG says. Kia was up 8.8% to $24,720.
Quote: "Thanks to the strongest product lineup we've ever had and the dedication of our retail partners to provide a better sales experience, we were successful in growing retail sales by double digits, while keeping incentive spending below industry average," said Randy Parker, vice president of national sales at Hyundai Motor America.