Hyundai and Kia Report 10% Drop in US Sales Amid Reduced Exports and Hurricane Impact

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Hyundai Motor and its subsidiary Kia Motors revealed a 10% year-over-year decline in their combined U.S. sales for September, impacted by reduced exports and decreased local demand due to a hurricane.

According to the companies' sales data, Hyundai and Kia sold a total of 127,941 vehicles in the U.S. last month, down from 142,869 units sold during the same period last year. Hyundai's September U.S. sales dropped by 8.7%, from 75,605 vehicles to 69,028, while Kia experienced a 12% decline, selling 58,913 vehicles compared to 67,264 last year.

Hyundai stated that the September sales were affected by Hurricane Helene, which struck the southeastern U.S., and a reduction in working days at their South Korean factories due to autumn festival celebrations, leading to decreased exports to the U.S.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.