Hyundai Motor America Reports Record-Breaking Q1 2022 Retail Sales

Rhea-AI Summary

Hyundai Motor America achieved a record-breaking retail sales of 159,676 units in Q1 2022, marking a 1.4% increase from Q1 2021. Despite a 4% decline in total sales, the company's electrified vehicle sales surged by 241%. March 2022 alone saw sales of 59,380 units, representing the third-best March in the company's history, with a 179% year-over-year growth in electrified vehicle sales. Hyundai has notably increased its market share, outperforming the forecasted 14.8% decline in total industry sales.

Positive

• Q1 2022 retail sales reached 159,676 units, a record high.
• Electrified vehicle retail sales soared by 241% in Q1 2022.
• March 2022 sales constituted the third-best March for Hyundai with 59,380 units sold.
• Hyundai significantly outperformed the industry, increasing market share amidst inventory challenges.

Negative

• Total Q1 sales decreased by 4% compared to the previous year.
• The company reported a significant drop in sales for several popular models: Elantra (-19%), Ioniq (-55%), Kona (-42%), Sonata (-82%).

• Hyundai's Q1 Retail Sales Increased 1.4%
• Hyundai's Q1 2022 Retail Sales Significantly Outperformed Forecast of a 14.8% Total Industry Decline

FOUNTAIN VALLEY, Calif., April 1, 2022 /PRNewswire/ -- Hyundai Motor America reported record-breaking Q1 retail sales of 159,676 units, a 1.4% increase compared with 2021's Q1 retail record of 157,470 units. Electrified vehicle retail sales increased 241% in Q1. Total Q1 sales declined 4%. Hyundai had no fleet sales in Q1 2022.

"The first quarter was an all-time retail sales record for Hyundai as we focused on meeting the tremendous consumer demand despite ongoing inventory challenges," said Randy Parker, senior vice president, national sales, Hyundai Motor America. "We outperformed the industry in Q1 and substantially increased our retail market share."

March Results

Hyundai sold 59,380 units in March 2022, resulting in the third best March retail month in the company's history. Month over month retail and total sales were up 13%. Hyundai electrified vehicle retail sales grew 179% year over year, while Elantra Hybrid and Nexo established all-time monthly retail and total sales records.

		March Total Sales Summary
			Mar-22	Mar-21	% Chg	2022 YTD (Q1)	2021 YTD (Q1)	% Chg
		Hyundai	59,380	75,403	-21%	159,676	167,130	-4%

March Product and Corporate Activities

• IONIQ 5 Named Top Pick: EV Family by Cars.com: Hyundai's IONIQ 5 was named the Top Pick: EV Family by Cars.com.
• Santa Fe and Palisade Named Best Family Cars of 2022 by Kelley Blue Book: Hyundai's Santa Fe and Palisade were each named a Best Family Car of 2022 from Kelley Blue Book's KBB.com.
• Three Hyundai Models Honored as AutoGuide 2022 Award Winners: Hyundai has won three AutoGuide 2022 Awards, more than any other automotive brand. The 2022 Tucson was named Utility Vehicle of the Year, the 2022 IONIQ 5 was named Green Vehicle of the Year, and the 2022 Elantra N wowed the judges, securing Performance Car of the Year.
• Lewis, Hagler Take Championship Lead After Wild Sebring Finish: The Hyundai and Bryan Herta Autosport (BHA) driver pairing of Taylor Hagler and Michael Lewis secured a dramatic second-place finish in last week's IMSA Michelin Pilot Challenge (IMPC) Alan Jay 120 at Sebring International Raceway.
• Hyundai IONIQ 5 Named 2022 Hispanic Motor Press EV of the Year: The Hyundai IONIQ 5 was named EV of the Year in the 2022 Hispanic Motor Press Awards.

 

	Model Total Sales
	Vehicles	Mar-22	Mar-21	% Chg	2022 YTD (Q1)	2021 YTD (Q1)	% Chg
	Accent	1,446	1,788	-19%	2,697	4,272	-37%
	Elantra	10,205	12,598	-19%	22,072	26,093	-15%
	Ioniq	860	1,930	-55%	3,544	4,125	-14%
	Ioniq 5	2,700	0	---	6,244	0	---
	Kona	6,053	10,416	-42%	15,536	22,610	-31%
	Nexo	113	30	+277%	166	78	+113%
	Palisade	7,283	9,184	-21%	21,025	21,207	-1%
	Santa Cruz	2,950	0	---	8,400	0	---
	Santa Fe	10,124	11,538	-12%	25,582	28,570	-10%
	Sonata	1,716	9,335	-82%	7,744	20,557	-62%
	Tucson	13,642	15,744	-13%	39,655	33,147	+20%
	Veloster	205	272	-25%	462	687	-33%
	Venue	2,083	2,568	-19%	6,549	5,784	+13%

Note: Electrified vehicles are hybrid, plug-in hybrid, electric and 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's Q1 2022 retail sales figures?

Hyundai's Q1 2022 retail sales totaled 159,676 units, which is a 1.4% increase from the previous year.

How much did electrified vehicle sales increase for Hyundai in Q1 2022?

Electrified vehicle retail sales for Hyundai increased by 241% in Q1 2022.

What is Hyundai's performance compared to industry forecasts in Q1 2022?

Hyundai outperformed the total industry forecast, which predicted a 14.8% decline in sales.

What were Hyundai's total sales in March 2022?

Hyundai sold 59,380 units in March 2022, marking it as the third-best March in the company's history.

Which Hyundai models saw significant sales declines in Q1 2022?

The Hyundai Sonata saw an 82% decline, while other models like Elantra and Ioniq experienced declines of 19% and 55%, respectively.