Hyundai-Kia group sets record sales in 2010

Article by Christian Andrei, on January 5, 2011

December 2010 sales for Hyundai and Kia in the U.S. were record-breaking and so are their sales for the entire year. The two affiliated brands posted higher sales mainly buoyed up by their new or redesigned vehicles. Hyundai’s Sonata continued to be strong while the sales of its Elantra compact, Tucson crossover and Genesis sedan grew further.

On the other hand, Kia’s Soul, Forte, Forte Koup, Sportage, Sorento and redesigned 2011 Optima made up 86% of Kia’s December sales volume.

Hyundai sold 538,228 vehicles in 2010, higher by 24% than in 2009, and 15.2% higher than its prior record of 467,009 vehicles set in 2007. Hyundai said that its holiday advertising campaign and improved product availability boosted sales to individual customers by 54% in December compared with 2009.

Meanwhile, sales to fleet customers such as rental car companies accounted for 7% of Hyundai’s December sales compared to 16% for the entire year. Kia does not reveal fleet sales figures.

In a statement, Hyundai CEO John Krafcik said that December was the “capstone to a good year for Hyundai,” explaining that its total sales results understate the more significant gains it made at retail, where its market share added a full point.

John Krafcik, president and chief executive of Hyundai Motor America, remarked that Hyundai’s sales in December gave 2010 a strong finish – significant volume and important gains in retail sales, as well as a full percentage point increase in market share.

He disclosed that for 2010, Hyundai was able to sell 24-percent more vehicles overall. Its retail volume also grew 35 percent by 115,786 units, with 90,349 of which came from retail sales of the new 2011 Sonata. Krafcik noted that gains made by the Sonata marked the biggest retail sales hike of any car in the auto industry.

He also noted that the gains demonstrated how well customers were attracted by the Sonata’s 4-cylinder lineup and dynamic new design, as well as its crash worthiness as proven by its 5-star 2011 NHTSA crash test result that is first in the mid-size segment.

Krafcik remarked that for this year, Sonata should be able to increase its volume with wider availability of the Sonata Turbo and the arrival of the lithium-polymer battery-powered Sonata Hybrid this month. In December, Hyundai saw its Elantra, Sonata, and Tucson nameplates increase their sales volumes by 127 percent, 52 percent, and 348 percent, respectively.

Hyundai also sold 4,724 units if the new 2011 Elantra in the first full month of availability. Every variant of the 2011 Elantra is able to return 40 miles per gallon. The South Korean carmaker is aiming to become the sales leader of 40-mpg vehicles in 2011, after selling 4,916 units in 2010.

Press Release

HYUNDAI MOTOR AMERICA REPORTS DECEMBER SALES AND SETS A FULL-YEAR SALES RECORD

Hyundai Motor America today announced December sales of 44,802 units, up 33 percent versus 2009. For the full year, Hyundai reported 538,228 sales, up 103,164 units from last year for a 24 percent gain and an all-time Hyundai sales and market share record for the year.

December retail sales were up 54 percent from last year due to improving product availability and a popular Hyundai Holiday marketing effort that helped increase traffic to Hyundai.com 120 percent over last year. Full year retail sales were up 35 percent. Fleet sales mix for the month of December was 7 percent, with fleet mix for the year at 16 percent.

“December was the capstone to a good year for Hyundai, with our total sales results actually understating the more important gains we made at retail, where we added a full point of market share,” said John Krafcik, president and CEO, Hyundai Motor America. “While we grew total volume 24 percent, retail volume through our 800-strong dealer network climbed 35 percent, or 115,786 units, with 90,349 of that retail gain coming from the game-changing 2011 Sonata.”

“That marks the biggest retail sales increase of any car in the entire industry, and it shows how well consumers have responded to our high-tech 4-cylinder lineup, dynamic new design, and the mid-size segment’s first 5-star 2011 NHTSA crash test result,” Krafcik added. “Improving Sonata Turbo availability, and the lithium-polymer battery-powered Sonata Hybrid that arrives later this month, should help Sonata find a few more buyers in 2011.”

Elantra, Sonata, and Tucson sales for December increased 127 percent, 52 percent, and 348 percent, respectively. The all-new 2011 Elantra, which achieves 40 miles per gallon in every variant, not just low-volume, extra-charge “Eco” or “Special Fuel Economy” models, found 4,724 homes in its first full month of availability. Hyundai has targeted leadership in sales of 40 mile-per-gallon vehicles in 2011, and closes the books in 2010 with 4,916 sales in this category.

Genesis continued its impressive growth with the 18th consecutive month of year-over-year sales increases. For the year, Genesis sales increased 33 percent, to 29,122. “The continued growth in Genesis sales shows how much the Hyundai brand has grown over the last two years,” said John Krafcik. “Genesis market share has now exceeded our most optimistic early projections, and has set the stage well for continued growth in premium segments.” Hyundai’s all-new flagship Equus, with higher residual value than Mercedes-Benz S-Class, BMW 7-Series, and Audi A8, began hitting showrooms in December to high demand and limited availability, resulting in 196 sales. Hyundai targets Equus sales volume of 2,000 to 3,000 in 2011.

HYUNDAI MOTOR AMERICA

Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through about 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program which includes the 5-year/60,000 mile fully transferable bumper-to-bumper warranty, Hyundai’s 10-year/100,000 mile powertrain warranty, 5-year complimentary Roadside Assistance, and the job-loss vehicle return program.

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