Hyundai and Kia continued to see strong U.S. sales post-first-quarter, according to April sales reports released Tuesday, May 2.
Hyundai’s monthly U.S. sales totaled 70,812 units, representing a slight decrease from March but a year-over-year gain of 15% and the second-best April score in the Korean automaker’s history. The brand’s electric vehicle and hybrid segments saw impressive growth sustained by record-breaking demand for the Elantra HEV, Elantra N, Sante Fe HEV and Tucson PHEV.
Kia also saw marked improvements over 2022, selling 15.5% more vehicles in the U.S. for an April total of 68,205 units. Demand for the Hyundai subsidiary’s growing EV lineup also increased, driving sales up 22% from March to 11,798 units. The segment accounted for 17% of the automaker’s market share. In its report, the brand notes that April was the ninth consecutive month of year-over-year growth, even as sales saw marginal declines from March.
Hyundai and Kia vehicles have rapidly expanded their presence in the U.S. and performed consistently in an industry that has struggled to keep its footing in the post-COVID economy. Both brands saw double-percentage growth in the first quarter, outpacing automakers such as Toyota, which saw a 9.1% decline. Although the market is far removed from its pre-pandemic state, the last 12 months have seen more stability in supply chains and production, allowing automakers to restock dealership inventories. However, while early-year numbers show promise, the new automotive landscape remains largely untested in key areas such as affordability. Successfully navigating the remainder of 2023 will require retailers to monitor their days supply carefully without neglecting their preparations for more economic headwinds.
