Kia Sales Dip in Q1 202X, Hopes High for Upcoming EV SUVs
Kia, after a record-breaking 2023, has witnessed a three-month sales decline. The company, however, remains optimistic about its upcoming electric SUVs, including the EV9 and EV4, which it hopes will boost sales.
Kia's VP of sales operations, Eric Watson, attributed the recent sales dip to the shift towards electric vehicles and SUVs in the stock market today. Despite this, Kia's SUV sales rose by 6% year over year, accounting for 76% of total U.S. sales in February. Notably, the Carnival, Forte, and Sportage models set U.S. sales records during this period.
Meanwhile, Honda's sales surged by 38% month over month and 32.3% year over year. Hyundai, Mazda, and Subaru also reported increased sales compared to the previous year. Hyundai and Mazda, in particular, achieved their best-ever February sales in the U.S.
Kia's upcoming electric SUVs, the EV9 and EV4, are expected to hit the market in spring 202X, potentially reversing the company's recent sales decline. The growing appetite for electric vehicles and SUVs in the stock market today, as demonstrated by Honda's and other competitors' sales performances, suggests that Kia's new offerings could be well-received.
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