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Hyundai, Kia gross sales fall 4th straight month

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Provide-chain disruptions, pushed by the ongoing scarcity of microchips that has dented new-vehicle stockpiles, undercut U.S. gross sales at Hyundai and Kia for the fourth straight month in November.

Quantity dropped 20 % at Hyundai, its greatest decline of the surrent droop, and 5.4 % at Kia final month, the businesses stated Wednesday.

Hyundai stated it ended November with simply 17,096 models in inventory, down from 19,894 on the finish of October and 145,885 on the shut of Nov. 2020. A few of the firm’s top-sellers posted notabel declines final month; Elantra, down 42 %; Sonata, off 56 %; Santa Fe, down 24 % and Kona, off 37 %.

The corporate’s fleet shipments additionally dropped sharply final month — 97 %, and represented lower than 1 % of general quantity.

Randy Parker, senior vp for nationwide gross sales at Hyundai Motor America, stated “client demand stays exceptionally excessive” however “lingering availability points continued into November.”

At Kia, a few of the model’s key fashions — led by the Telluride, Seltos, Sportage and Soul — all posted declines. The corporate stated it offered 77 % of obtainable U.S. stock in November.

Genesis, helped by an increasing product lineup, continued to rack up main positive factors, with November quantity advancing 435 % to five,002 sedans and crossovers. 

Toyota Motor Corp., Honda Motor Co., Subaru, Mazda and Volvo are anticipated to report November gross sales outcomes later Wednesday, whereas Ford Motor Co. is scheduled to launch outcomes for the month on Friday. Normal Motors, Stellantis, Nissan Motor Co., Volkswagen Group and the remainder of the business publish U.S. gross sales quarterly.

U.S. light-vehicle gross sales are anticipated to fall 11 to 12 % in November, analysts say — dashing hopes for a extra substantial end to 2021 fueled by conventional year-end vacation reductions — after quantity dropped 14 % in 2020 on the onset of the pandemic.

The emergence of one other COVID-19 variant additionally threatens to upend the spotty restoration to the extent provide chains and manpower are impacted by journey and different doable working restrictions.

Retail inventories remained beneath 1 million models in November for the fourth straight month, J.D. Energy and LMC Automotive stated.

“The standard Black Friday gross sales surge shall be troublesome to help,” this yr, stated J.D. Energy analyst Thomas King. “The normal year-end gross sales push shall be considerably non-traditional.”

Trade gross sales rose 13 % via September behind a robust first quarter and a 4.96 % rise within the second quarter, adopted by 13 % decline within the third quarter.

Nonetheless, November gross sales are anticipated to extend barely from October, rising lower than a % to achieve an estimated 1.05 million, Cox Automotive stated.

“The market is caught in low gear,” stated Cox Automotive Senior Economist Charlie Chesbrough. “There are potential patrons on the market, however many are ready on the sidelines, delay by restricted choice and excessive costs.”

Even amid tight provides, some automakers proceed to pitch offers to maintain shoppers and patrons engaged.

Hyundai and Ford final month supplied 0 % financing and waived funds as much as 90 days on choose fashions, and BMW dangled as much as $2,500 off on choose new fashions via Nov. 30.

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