Mainstream Korean automakers Hyundai and Kia followed the market downward in September after solid growth for most of the year, while luxury brand Genesis continued sharply higher sales on the introduction of a new model and the build out of its retail network.
Brands: Hyundai down 8.8%; Kia, down 13%; Genesis up 272%
Notable nameplates: Hyundai Elantra, down 27%; Hyundai Kona, up 22%; Hyundai Palisade, 3,495 units (new model); Kia Soul, down 43%; Kia Sportage, down 2%; Kia Telluride, 5,049 units (new model); Genesis G70, 871 units (new model); Genesis G80, up 47%.
2019 U.S. light-vehicle market share through September: 7.7% vs. 7.4% in first three quarters of 2018.
Incentives: Hyundai, $2,655 per vehicle, down 7.5% from a year earlier; Kia, $3,619 per vehicle, down 4.6%, ALG says.
Average transaction price: Hyundai, $24,231, up 9.2% from a year earlier; Kia, $24,266, up 7.4% from a year earlier, according to ALG.
Quote: "While the September year-over-year results were skewed because of the Labor Day weekend timing and two fewer selling days, we were pleased with the efforts of our entire team and retail partners in achieving growth in the third quarter," said Randy Parker, vice president of national sales, Hyundai Motor America. "Once the final numbers from our competitors are reported, we anticipate gaining market share for the quarter and on the year."
Did you know? The new Genesis retail network currently stands at 341 locations.