Hyundai and its Genesis luxury brand posted record monthly U.S. sales in June on the back of adequate inventories, new and freshened models and strong passenger-car deliveries. And it all came with a sharply lower incentive bill.
For Hyundai, June marked the fourth consecutive month of record monthly sales. The automaker also set records for second-quarter and first-half deliveries, aided by new hybrid versions of the Tucson and Santa Fe crossovers. Genesis reported its best-ever month in June on the recent launches of its first two crossovers, the GV70 and GV80.
Brands: Hyundai, up 45% in June; Genesis nearly tripled sales compared with June 2020.
Notable nameplates: Hyundai Elantra, up 96% in June; Sonata, up 84%; Tucson, up 43%; Palisade, down 27%. The Genesis GV80, a new model, had 1,714 deliveries.
Incentives: Hyundai, $1,722 per vehicle, down 31% from a year earlier, TrueCar says.
Average transaction price: Hyundai, $30,415, up 5% from a year earlier, according to TrueCar.
Quote: "Even though inventories are tight, we've got cars to sell. If the customer can't find exactly what they are looking for online, let's take a look at what's coming that could be there in three, five, 10 days," said Randy Parker, senior vice president of national sales at Hyundai Motor America.
Did you know? Hyundai's Venue subcompact crossover outsold its Accent sedan counterpart by more than 3-to-1 in June. The Venue, launched for the 2020 model year, is expected to take the place of the Accent in the near future. Hyundai has said it will sell the Accent as long as there is demand, but it was the brand's poorest-performing model in June along with the Veloster compact hatchback.