Hyundai Motor enjoyed a 7% year on year rise in retail sales to 161,254 units in the US in the third quarter of 2020 on strong demand for sports utility vehicles, according to reports in South Korea.
This follows a 21% rebound in September to 51,784 units, driven by a 125% jump in sales of the new Palisade mid size SUV, while sales of the smaller Kona and Santa Fe SUVs rose by 44% and 17% respectively.
Go deeper with GlobalData
The company’s US subsidiary, Hyundai Motor America, reported a 1% decline in wholesale volume to 170,838 units in the third quarter following a rise of just 5% to 54,790 units in September.
The strong sales performance in September has helped reduce dealer inventories and likely points to the beginning of a broader recovery in consumer demand in the country.
Randy Parker, vice president of Hyundai Motor America, told local reporters “retail sales in the third quarter increased, which is another indication that sales are recovering from the pandemic”.
Hyundai wholesale volume in the first nine months of 2020 was still down by over 12% at 443,425 units from 506,356 units in the same period of last year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSee also: September sees retail surge in US vehicle market
