Hyundai sales in the US in May take a torrid tumble, most models in red
Hyundai Motor America reported its sales figures for the month of May and it is a rather forgetabble one for the Koreans as almost each of its 13 models on offer registered a de-growth when compared for sales figures from May of 2021. The company sold a total of 59,432 units last month, down 16 per cent from 90.017 units sold in the same month of the preceding year.
Hyundai's fortunes in the US have taken a downward turn despite the introduction of new models like the Ioniq 5 which, on its own, has fared well. The company sold 1,918 units of the electric vehicle (EV) last month. But the likes of Kona and Nexo were unable to keep up with the momentum with sales falling by 42 per cent and 44 per cent last month, respectively.
But bulk of the thrust for Hyundai continued to come from its ICE models (internal combustion engine) with both sedans and SUVs faring well. But not last month. Elantra is one of the best-selling Hyundais in the US but sales fell to 7,731 units last month from 18,821 units in May of 2021. Sonata sales also came down from 13,487 units to just a little over 5,053 last month. The best-selling model for the company here was Tucson and 14,152 units of the SUV were sold last month, still down from 18,848 units from May of 2021. Santa Fe was the other popular Hyundai SUV with 10,548 units sold, down from 12,868 units. Even the compact Venue SUV saw a 35 per cent decline with 2,332 units sold last month.
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But before one assumes that Hyundai models are losing popularity, pause. Auto brands at large have been facing an uphill task the world over and espeically in the US where companies are just not able to produce enough units owing to shortage in crucial parts. Toyota is a formidable players but even its popular models like RAV4, Camry, Highlander and Tacoma have registered a signficant dip in sales. Honda is struggling big time too while Acura, Subaru, Kia are in the list of brands facing the bulk of the impact of both parts' shortage and the ongoing war in eastern Europe. And with waiting times only increasing, often over a year, it could be quite some time before it gets any better.