HYUNDAI-KIA: Improved retail, product mix, fatter deals deliver gain

Combined U.S. sales at Hyundai Motor America and Kia Motors rose 3.5 percent to 111,406 in August. Hyundai Motor America deliveries advanced 6 percent to 57,542, while Kia sales edged up 1 percent to 53,864.Retail sales at the Hyundai and Genesis brands rose 12 percent and were partially offset by a 30 percent drop in fleet deliveries, which represented about 10 percent of volume.The Hyundai brand's sales grew 8.4 percent, with the Tucson crossover posting a 19 percent rise en route to the nameplate's 18th straight month of record sales. Across the brand's crossover lineup, sales increased 30 percent to 27,678 units, marking a record for the month of August. Sales of the Elantra rose 2 percent for the nameplate's fourth-straight month of growth, and bucking an otherwise dismal trend for car sales.The Genesis brand's sales continued a steep decline -- dropping 66 percent to just 613 units -- due to lower inventory as part of a transition to a smaller retail network. For Kia, the Optima, Rio and Sorento posted gains of 57 percent, 44 percent and 34 percent, respectively. That partially offset struggling sales for the Forte, which fell 39 percent, and the Soul, which dropped 36 percent. Kia's results were also padded by 1,480 deliveries of the Stinger, which was not on sale in August 2017.Brands: Hyundai up 8.4%; Kia up 1%; Genesis down 66%Notable nameplates: Hyundai Elantra up 2.3%; Kia Optima up 57%; Kia Sorento up 34%; Kia Sportage up 8.7%; Kia Soul down 36%; Hyundai Veloster down 23%; Hyundai Sonata down 13%; Hyundai Santa Fe off 1%.Average incentive per new vehicle: Hyundai up 5.7% to $2,945; Kia up 15% to $4,347, according to ALG.Average transaction price: Hyundai down 3.3% to $22,184; Kia up 3.1% to $22,733, ALG estimates.Quote: "Hyundai's double digit retail sales increase is the result of our improving product mix, and the hard work of our dealer partners and sales and marketing teams," said John Angevine, Hyundai Motor America's director of U.S. sales. "It's a great sign that Hyundai is regaining its sales momentum in the second half of the year, with SUV sales nearly 50 percent of volume and car models, like Elantra standing out in its segment."Did you know? Through the first eight months of this year, Subaru has overtaken Hyundai Motor America's U.S. sales; 446,374 vs. 444,341.

HYUNDAI-KIA: Improved retail, product mix, fatter deals deliver gain

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