If you saw John Krafcik’s month-end letter to all dealers you already know this, but WOW! Sonata was the best-selling car at retail in the entire industry, with 20,879 deliveries through your dealerships.
Here are a few more highlights from John’s letter:
- Elantra was the third-best selling car at retail in the industry, with 19,085 retail deliveries. Only Altima and Sonata outsold Elantra. It was the best-selling compact car at retail in the segment.
- We had all-time record retail market share of 6.4%, with a total market share of 5.6%. Calendar year to date, we’re at a 5.0% total share, by far our best-ever trending full year share.
- Total sales up 21%, to 59,214.
- New records, again, for brand-level (Hyundai) and model-level (Elantra) sales velocity/turn rates (you are turning Elantra inventory about 5 times per month…incredible).
- Continued decrease in fleet mix (just 7% for the month).
- 23rd month in a row of year-over-year sales increases for Genesis.
- Once again, one-third of our sales in May were cars with 40-mpg fuel economy labels…more than anyone else, by far, in the industry.
Hyundai has canceled our 12MY fleet orders and converted that production into retail allocations and have made a significant investment to add more 4-cylinder engine capacity at HMMA and are working closely with the plant to optimize operating efficiency and squeeze additional domestic production out of the plant.
You’ve clearly figured out how to retail cars with lean inventories. We haven’t had dealer inventories this low since November 2000. That month, we sold about 17,000 units. We’re selling well over three times that right now. Great demand based on hot products, and a really simple model mix (less than 100 buildable combinations of all of our models, excluding color – that’s the best in the industry), have helped enable you to do things we didn’t think possible. Grosses are up, floorplan expenses are way down, and our future has never looked brighter.