Hyundai Motor America Reports May 2022 Sales

Rhea-AI Summary

Hyundai Motor America announced May 2022 retail sales of 59,432 units, marking a 30% decline compared to May 2021. Despite this drop, the Santa Cruz model achieved record retail sales. The company expects strong consumer demand to continue and anticipates improved inventory levels later in 2022. Notably, Hyundai is set to invest $5.54 billion in a new EV plant and battery manufacturing facility in the U.S., with production starting in the first half of 2025.

Positive

• Investment of $5.54 billion in a new U.S. EV plant expected to enhance long-term production capabilities.
• Santa Cruz model reported all-time record retail sales.

Negative

• Total retail sales decreased 30% year-over-year.
• Ioniq sales dropped 99% compared to May 2021.
• Overall retail sales in 2022 YTD down 16% compared to 2021.

FOUNTAIN VALLEY, Calif., June 1, 2022 /PRNewswire/ -- Hyundai Motor America reported May retail sales of 59,432 units, a 30% decrease compared with May 2021. May was an all-time record month for Santa Cruz retail sales. Hyundai had no fleet sales in May 2022.

"There continues to be extraordinary consumer demand for Hyundai vehicles, with dealers selling every vehicle they get," said Randy Parker, senior vice president, national sales, Hyundai Motor America. "We expect demand to remain strong and inventory levels to improve later in 2022."

May Total Sales Summary

	May-22	May-21	% Chg	2022 YTD	2021 YTD	% Chg
Hyundai	59,432	90,017	-34%	280,776	334,670	-16%

May Product and Corporate Activities

• New EV Plant: Hyundai Motor Group announced it would establish its first dedicated EV Plant and Battery Manufacturing facility in the U.S. with an investment of approximately $5.54 billion. Commercial production to begin 1H 2025 with an annual capacity of 300,000 units.
• Hyundai IONIQ 5 Added to Consumer Guide's® 2022 Best Buy Awards: Six Hyundai vehicles were awarded Consumer Guide Best Buy Awards. More than 150 new vehicles were evaluated across 20 categories.
• Hyundai IONIQ 5 Named CUV of Texas by the Texas Auto Writers Association: Hyundai took home six Texas Auto Roundup Awards for the IONIQ 5 and Elantra N.
• Hyundai Presents the Sixth Annual National Salute to America's Heroes Memorial Day Weekend Event: 2022 marked the sixth year in a row Hyundai was a title sponsor of the event in South Florida.
• Hyundai New Horizons Studio to Design and Build Ultimate Mobility Vehicles in Bozeman, Montana: Hyundai New Horizons has a planned investment of $20 million over the next five years.
• Hyundai Hope: Hyundai Hope and Gary Rome Hyundai donated $25,000 to local food banks at the dealership's 25th anniversary event.

May Model Total Sales

Vehicles	May-22	May-21	% Chg	2022 YTD	2021 YTD	% Chg
Accent	1,273	2,162	-41%	5,342	9,145	-42%
Elantra	7,731	18,821	-59%	40,472	59,272	-32%
Ioniq	14	2,174	-99%	3,662	7,663	-52%
Ioniq 5	1,918	0	0%	10,839	0	0%
Kona	5,665	9,731	-42%	26,686	42,608	-37%
Nexo	9	16	-44%	222	112	+98%
Palisade	7,395	8,051	-8%	36,771	37,536	-2%
Santa Cruz	3,151	0	0%	14,701	0	0%
Santa Fe	10,548	12,868	-18%	47,204	51,908	-9%
Sonata	5,053	13,487	-63%	14,859	44,260	-66%
Tucson	14,152	18,848	-25%	68,423	68,896	-1%
Veloster	191	244	-22%	932	1,253	-26%
Venue	2,332	3,615	-35%	10,663	12,017	-11%

Note: Electrified vehicles are hybrid, plug-in hybrid, battery electric and hydrogen fuel cell models.

Hyundai Motor America

Hyundai Motor America focuses on 'Progress for Humanity' and smart mobility solutions. Hyundai offers U.S. consumers a technology-rich lineup of cars, SUVs, and electrified vehicles. Our 820 dealers sold more than 738,000 vehicles in the U.S. in 2021, and nearly half were built at Hyundai Motor Manufacturing Alabama. For more information, visit www.HyundaiNews.com.

Hyundai Motor America on Twitter | YouTube | Facebook | Instagram | LinkedIn

 

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SOURCE Hyundai Motor America

FAQ

What were Hyundai Motor America's May 2022 retail sales figures for HYMTF?

Hyundai Motor America's May 2022 retail sales were 59,432 units, a 30% decrease compared to May 2021.

What is the projected investment for Hyundai's new EV plant in the U.S.?

Hyundai plans to invest $5.54 billion in its new dedicated EV plant and battery manufacturing facility in the U.S.

How did Hyundai's sales in May 2022 compare to May 2021?

Hyundai's sales in May 2022 decreased by 30% from May 2021.

What is the sales outlook for Hyundai vehicles in the remainder of 2022?

Hyundai expects strong consumer demand to persist and anticipates improvements in inventory levels later in 2022.

Which Hyundai model achieved record sales in May 2022?

The Santa Cruz model achieved record retail sales in May 2022.