Stock Markets1 hour ago (Oct 01, 2020 03:15AM ET)
(C) Reuters. A Hyundai logo is seen at Hyundai of Serramonte in Colma, California
(Reuters) – South Korean automaker Hyundai Motor Co (KS:005380) said on Thursday its U.S. sales rose 5% in September, led by a quick recovery in demand for its high-profit SUVs.
The automaker said sales in September rose to 54,790 vehicles, compared with 51,951 units in the same month in 2019.
Sales volume for Hyundai’s Palisade and Santa Fe SUVs jumped 38.5% to a total of 16,307 vehicles.
Consumer demand for high-profit SUVs and pickup trucks in the United States has recovered rapidly since spring after hitting a pandemic-fueled bottom in April, pushing automakers to ramp up production and boost lean inventories at dealerships.
Hyundai’s third-quarter sales, however, fell 1% to 170,828 vehicles.
Hyundai’s U.S. sales rise 5% in September
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