Hyundai gross sales rebound, Kia slips once more as chip scarcity drags on
Hyundai snapped a five-month shedding streak with a ten p.c achieve in January U.S. gross sales whereas quantity dropped for the sixth straight month at Kia because the microchip scarcity and different supply-chain disruptions proceed to upend business stockpiles.
Retail deliveries rose 18 p.c, offsetting zero fleet shipments final month, Hyundai stated. The corporate set a January report with 47,872 deliveres largely behind 4 fashions — Venue, up 70 p.c; Tucson, up 64 p.c; Palisade, up 12 p.c; and Ioniq, up 51 p.c — that additionally posted report deliveries for the month.
Hyundai stated it ended the month with 18,060 vehicles and light-weight vans, down from 21,420 on the shut of December and 151,930 on the finish of Jan. 2021.
Kia quantity slid 5.5 p.c to 42,488 totally on sharply weaker Soul, Seltos and Forte deliveries.
Genesis racked up its 14th straight achieve with January gross sales rising 29 p.c to three,638 behind deliveries of the brand new GV70 crossover.
General, light-vehicle gross sales throughout the business are projected to fall 9 to 16 p.c final month, based mostly on forecasts from J.D. Energy-LMC Automotive, Cox Automotive and TrueCar.
Toyota Motor Corp., Honda Motor Co., Subaru and Mazda are scheduled to launch January outcomes later Tuesday, adopted by Ford Motor Co. on Wednesday. The remainder of the business studies U.S. gross sales quarterly.
J.D. Energy stated new-vehicle provides haven’t improved meaningfully, with retail stock remaining under a million items for the eighth-straight month in January.
Whereas the month is usually one of many weakest of the 12 months, tight availability and sturdy shopper demand imply common transaction costs will attain $44,905, a January report, J.D. Energy stated.
With chips in brief provide, automakers proceed to prioritize retail gross sales over fleet prospects, in addition to bigger, extra worthwhile gentle vans over vehicles and smaller autos, serving to to additional pad earnings.
New-vehicle stock final month fell 61 p.c from January 2021 ranges, leading to 1.2 million fewer vehicles and light-weight vans accessible at the beginning of 2022, in comparison with early 2021, Cox Automotive stated.
Analysts and automakers have warned the microchip shortage will undermine manufacturing and gross sales nicely into the second half of the 12 months.
U.S. gross sales rose 3.3 percent to 15.06 million in 2021, and business forecasts for 2022 deliveries vary from 15.2 million (Edmunds) to as excessive as 16.4 million to 16.6 million (Toyota Motor Corp.) Most forecasters see the market this 12 months coming in at 15.4 million to fifteen.5 million, with a bounce coming within the second half as inventories slowly get better.