Hyundai, Kia's U.S. Sales Almost Flat In 2018
Sumaira FH 3 days ago Mon 14th January 2019 | 02:48 PM
Hyundai Motor Co. and its affiliate Kia Motors Corp. posted 0.6 percent on-year sales growth in the United States last year due to a slowing economy and a lack of competitive models, the companies said Monday
SEOUL, (UrduPoint / Pakistan Point News - 14th Jan, 2019 ) :Hyundai Motor Co. and its affiliate Kia Motors Corp. posted 0.6 percent on-year sales growth in the United States last year due to a slowing economy and a lack of competitive models, the companies said Monday.
In 2018, Hyundai and Kia sold a combined 1.27 million vehicles in the U.S. market. Hyundai's sales fell 1.1 percent on-year to 677,946 units and Kia's were little changed compared to a year earlier at 589,763 units, Hyundai Motor Group said in a statement, citing figures from Autodata Ltd., a leading British global automotive technical information provider.
Hyundai launched the all-new Santa Fe SUV in the U.S. late last year and plans to introduce the Palisade flagship SUV and a new entry-level SUV, the group said in a statement.
It also intends to launch an all-new Sonata sedan in the U.S. this year to help boost sales, it said.
Overall vehicle sales in the U.S. gained 0.6 percent to 17.33 million units in 2018. There is a forecast that vehicle demand in the U.S. will fall to under 17 million autos due to higher interest rates this year, the statement said.
The won's volatility against the dollar, tougher competition with Japanese rivals due to a weaker Yen and the U.S. government's possible tariffs on imported vehicles remain major woes for the Korean carmakers this year, it said.