Hyundai Sales Slow Down in August
Hyundai Motor America reported lower year-over-year sales for August, but those numbers still managed to beat industry predictions and help the automaker continue to grow its retail market share.
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During August, Hyundai sold 58,361 vehicles in the U.S. That’s an 8 percent decrease compared to the same month last year. However, Hyundai pointed out that August 2019 contained three more selling days and included part of Labor Day weekend.
Retail accounted for 55,915 sales in August, down just 2 percent year over year. About 67 percent of those sales were SUVs. So far this year, Hyundai has increased its retail market share by nearly 1 percent, leading the auto industry.
“Despite a down market, our SUVs continue to drive sales and deliver results for us and our dealers,” said Randy Parker, Hyundai Motor America’s vice president of national sales. “Our entire lineup performed well, but Palisade led the pack and is one of the fastest-selling vehicles in the industry. Sonata sales were up, because customers still want great, high-quality, safe sedans.”
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Hyundai sales leaders for August
The Palisade SUV made the biggest strides for Hyundai in August, selling 7,983 units for the month. That’s a 56 percent increase over August 2019. Also showing strong growth was the Kona. The compact SUV moved 7,998 units — a 25 percent year-over-year gain.
Hyundai’s best-selling vehicle in August was the Tucson SUV, which sold 11,632 units. However, that number was down 16.8 percent from the year before.
Coming in at No. 2 was the Elantra sedan, which was down more than 36 percent despite selling 9,135 units. In brighter sedan news for Hyundai, retail sales for the Sonata were up 11 percent despite an overall 3.2 percent decline.
The lingering effects of the COVID-19 pandemic have continued to affect auto dealerships. However, Hyundai has successfully managed to limit its losses while exceeding industry expectations — placing the automaker in a strong position as the final quarter of 2020 draws near and sales continue their rebound.
A longtime editor/writer and recently transplanted Hoosier, Caleb Cook lives in Xenia, Ohio. His favorite activities are reading and listening to music, although he occasionally emerges from the heap of books and vinyl records in his basement to stand blinking in the sunlight. Once fully acclimated to the outside world again, he can be observed hanging out with his wife, attempting a new recipe in the kitchen, attending movies, walking the dog, or wandering into a local brewery to inquire about what’s on tap. See more articles by Caleb.