Honda, Hyundai and Kia set sales records in May

New cars may be in short supply due to the ongoing semiconductor shortage, but car shoppers definitely aren't.

Honda, Hyundai and Kia each set all-time monthly records in May as buyers continued to return to the market an scooped up vehicles at a frenetic pace.

Hyundai sales were up 56% compared to pandemic-hit May 2022 and let by a big recovery in compact cars and SUVs.

"Consumer demand across the Hyundai lineup remains strong and we continue to work closely with our manufacturing and supply chain partners to meet this extraordinary demand, sales VP Randy Parker said.

Kia saw gains in similar segments and deliveries of its Telluride large SUV, which was named 2020 World Car of the Year and North American Utility of the Year, up 200%.

Along with Honda's record result, the automaker's Acura luxury brand had its best month in nearly 15 years on the back of the recent introduction of several redesigned models, including the ILX sedan and MDX SUV.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Subaru and Toyota also reported strong, but not record results, with the latter down to just 9 days inventory on its dealer lots compared to a traditional average of around 60 days.

Many automakers have switched to quarterly sales reporting, including General Motors and Chrysler, and Ford is expected to report May numbers on Thursday.

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Most Read

How to combat the urge to overspend on summer travel

Denmark Opens Border To Vaccinated Americans

Multiple companies recalling mushrooms over potentially life-threatening bacteria

Beyond Yosemite: Exploring Historic Mariposa County As A Gateway To The Iconic National Park

Mediterranean Fusion Featured At Tapas & Cucina

Royal Caribbean’s Plan To Carry Unvaccinated Passengers Draws Mixed Reactions From Its Fan Base

Ford offering $1,000 discount to buyers willing to wait for new vehicles

New Yorkers struggle to find rides amid taxi shortage, Uber price hikes

Swimwear Brand Oceanus Brings Back Hollywood Glamour With The Hottest New Designs For Summer

Jeff Bezos will travel to space on Blue Origin rocket

Business Travel: How To Get Your Team Back On The Road

In Timing With ‘In The Heights,’ NYC & Company Launches ‘The Latino Experience In NYC’

A Half-Million Pieces Of Space Junk Pose Real Threat To Astronauts

Food Network’s Guy Fieri snags $80M deal that renews his 2 shows

Jewelry Designer Ananya Speaks About Her Inspiration, Heritage, And Vision For Her Young Brand

A Grand Reopening And Blooming Debut

Jon Rahm Bettors In Disbelief - Then Relief - After He’s Forced To Withdraw From The Memorial Tournament With Positive COVID-19 Test

What To Know About Glacier National Park’s New Ticketed Entry System

Hip Furniture Rental Startup Feather Expands Into Texas; Plans To “Aggressively Pursue” New Markets

Chili's joins chicken sandwich wars with 'special sauce'