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Hyundai Motor Co. and Kia Corp. sold a combined 174,043 cars in the US market in May to surpass Ford Motor Co., which sold 13,523 units, for the first time since they entered the market 35 years ago.
The two automaking units of South Korea’s Hyundai Motor Group extended their record monthly sales to the third straight month.
With the May sales data, Hyundai and Kia are now the fifth best-selling car brands in the US market following GM, Ford, Toyota, and Honda.
Hyundai Motor Group posted decent growth in recent months, driven by strong SUV and luxury model sales under its premium brand of Genesis.
Analysts said Hyundai’s stronger sales than Ford was due to the South Korean companies’ skillful management of auto component inventories, including automotive chips.
Ford suspended or drastically reduced auto production at its US plants in the past two months due to chip shortage, resulting in its sales dropping from 213,300 units in March to 197,063 cars in April and 160,052 units in May.
By contrast, Hyundai and Kia’s sales in the US jumped from 144,923 units in March to 150,994 units in April and 174,043 cars in May.
