Hyundai Kia Sales Slip Sharply In November

By Douglas A. McIntyre Updated Jan 12, 6:04AM EST · Published Nov 23, 6:09AM EST

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Hyundai Kia Sales Slip Sharply In November — © Hyundai Motor Co.

While car sales in the U.S. were fundamentally flat across the industry in November, sales of South Korean brands Hyundai and Kia fell sharply. It continues a tough year for the brands

According to Kelley Blue Book, total American sales are expected to drop 1% to 1,360,000. That supports a pace close to an annual record. Kelley Blue Book analyst Tim Fleming:

“Following two months of more than 18 million SAAR, we project November sales to return to the low 17 million range. The strong numbers from the last two months were influenced by replacement demand in the hurricane-impacted regions of Texas and Florida, which appears to be largely satisfied at this point. Despite the lower SAAR, this will be the second highest November on record, trailing only November 2016, so more than a few sales records could be broken this month.”

Among the larger manufacturers, Hyundai Kia sales are expected to fall 12.2% to 101,000. The brands report their sales separately, but KBB has combined them because they have the same parent. According to the KBB analysis:

…Hyundai-Kia stands to lose nearly a full point of market share in November 2017, hurt most by the volume competing in car segments that could average nearly 20 percent declines. While Hyundai-Kia’s fleet sales are projected to be down 20 percent and explain part of the drops, retail sales of the mid-size Kia Optima and Hyundai Sonata sedans appear particularly hard hit this month, perhaps affected by the recent launches of the new Toyota Camry and Honda Accord.

Among the car companies formally known as the Big Three, GM (NYSE: GM) sales are expected to drop 1% to 250,000. GM brands include Cadillac, Chevy, Buick, and GMC,. Ford sales are expected to rise 1.8% to 200,000. The Ford brands are Ford and Lincoln. Fiat Chrysler (NYSE: FCAU) sales are expected to fall 5.5% to 152,000. This continues a slide which dropped sales in the first 10 months by 9% to 1.5 million. Fiat Chrysler brands include Chrysler, Fiat, Jeep, Dodge, and RAM.

Toyota (NYSE: TM) sales are expected to rise .2% to 198,000, another month when the company will come close to passing Ford for the overall N0.2 spot in U.S. sales.

The Hyundai Kia sales will be extremely poor for the entire year. Kia sales are off 9.4% for the first ten months of the year to 44,397. Hyundai sales are down 15.2% to 53,010

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.