LOS ANGELES — New three-row crossovers at Hyundai and Kia, along with soaring sales for sedans at luxury brand Genesis, led to an 11 percent gain at the three Korean brands combined compared with October of last year.
Nearly all the gains at the two mainstream brands came from crossovers, as both remake their lineups to focus on the hottest market segments. Genesis, which increased deliveries fivefold, benefited from the new G70 sedan and a growing dealer network.
As a group, the three brands sold 109,036 cars and light trucks last month. Hyundai led with 57,094, followed by Kia with 50,007 and Genesis with 1,935 vehicles.
Brands: Hyundai, up 8.4%; Kia, up 11%; Genesis had a fivefold increase
Notable nameplates: Hyundai Palisade, a new model, with 4,357 sold; Hyundai Santa Fe, up 42%; Hyundai Elantra, down 26%; Kia Telluride, a new model, with 6,075 sold; Kia Sportage, up 15%; Kia Soul, down 15%; Genesis G70, with 1,021 sold compared with 51 a year ago; Genesis G80, with 625 sold compared with 217 a year ago.
Incentives: At Hyundai, $2,565 per vehicle, down 3.9% from a year earlier. At Kia, $3,523, down 6% from a year earlier, ALG says.
Average transaction price: At Hyundai, $24,547, up 9.2% from a year earlier; at Kia, $24,518, up 8% from a year earlier, according to ALG.
Quote: "We are coming off an extremely productive Hyundai national dealer meeting and are committed with our retailer partners to continuing to enhance our performance with dynamic product, appropriate incentives and inventory management that will accelerate the momentum that we are building," said Randy Parker, vice president of national sales at Hyundai Motor America.
Did you know? In the battle of the three-row crossovers, the Kia Telluride handily outsold platform partner Hyundai Palisade last month, although both brands are selling as many as they can produce following their launches this year, with the Telluride going first. The true preference of
consumers between the rugged-looking Telluride and the more elegant Palisade will become clear only when the two vehicles are no longer production constrained, probably early next year.