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Hyundai-Kia will outsell Toyota and Honda in May sales, according to TrueCar. TrueCar expects Hyundai-Kia to sell 115,434 units in May. This number represents an increase of 43.4 percent over May 2010 making the Korean group a 10.9 percent market share putting it number three behind Ford and GM.
Hyundai-Kia has gathered a momentum caused by the earthquake slow down affecting Honda and Toyota. The earthquake caused a shortage crisis and low incentives, contributing to the Korean’s expected third place rank.
“There have been some real and perceived shortages of Japanese vehicles, and the message to consumers when they look around in the media is ‘you might as well not buy something,’” Toprak said. “But the truth is that if Hyundai-Kia didn’t have the right type of products at the right time, they wouldn’t have been able to capitalize on this opportunity.”
TrueCar expects inventories for Japanese automakers to continue to be low in June, especially for fuel-efficient models built only in Japan.