Weaker car demand dings Hyundai-Kia results again

Hyundai-Kia’s U.S. sales dropped 6.4 percent in January behind a 16 percent decline in car deliveries. Combined light-truck volume at Hyundai, Kia and Genesis rose 15 percent last month.

Brands: Hyundai down 11%; Genesis down 11%; Kia up by 2 units to 35,628.

Notable nameplates: Hyundai Tucson up 33%, Hyundai Elantra up 6%, Hyundai Sonata down 24%, Kia Sportage up 24%, Kia Forte down 6.7%.

Incentives: $ 3,047 per vehicle at Hyundai, up 40%; $ 3,413 per vehicle at Kia, up 1.4%, ALG says.

Average transaction price: $ 22,458 for Hyundai, down 3.9%; $ 23,091 for Kia, up 1.9%, according to ALG.

U.S. market share: 6.6% in January 2018 vs. 7.4% for all of 2017 and 7.2% in January 2017.

Quote: “As we expected, the SUV focused-market continues into 2018 with consumer demand in those segments outpacing all others,” John Angevine, director of national sales for Hyundai Motor America, said in a statement.

Did you know? The HyundaiTucson set a monthly U.S. sales record for the 11th consecutive month. Hyundai is looking to rebound in 2018 with the all-new Kona subcompact crossover and redesigned Santa Fe crossover, along with a retooled Veloster subcompact. Hyundai-Kia hasn’t posted a monthly gain in U.S. sales, year over year, since November 2016.

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