Kia May 2023 Sales Report: YoY Marginal Growth and Significant MoM Decline
Kia recorded sales of 18,766 units in May 2023, marking a slight increase of 48 vehicles compared to May 2022, representing a YoY growth rate of 0.26 percent. In April 2023, there was a significant month-on-month (MoM) decrease of 4,450 units, accounting for a decline of 19.17 percent. Sales fell from 23,216 units.
Breaking down the sales figures by model, the Sonet emerged as the best-selling Kia car in May 2023, with 8,251 units sold. Up from 7,899 units YoT. This represented an increase of 352 vehicles or 4.46 percent compared to May 2022. Sonet tops the list for the fourth consecutive month. Carens, with sales of 6,367 units, showed strong growth of 1,755 units or 38.05 percent year-on-year. Sales are up from 4,612 units making it one of the top-selling Kia cars in May 2023.
Seltos Takes a Hit: Exploring the Dip in Kia’s May 2023 Sales
Seltos experienced a decline of 1,888 units or 31.72% YoY, with 4,065 units sold. Down from almost 6k units. The EV6, Kia’s electric vehicle, saw a substantial increase from 15 units in May 2022 to 83 units in May 2023, reflecting a notable growth rate of 0.44%. However, the Carnival model experienced a significant drop in sales, selling zero units in May 2023 compared to 239 units in May 2022.
Analysing MoM changes, Sonet witnessed a decrease of 1,493 units or 15.32 percent in sales from April 2023. Sales fell from 9,744 units. Carens, on the other hand, saw a modest increase of 260 units or 4.26 percent. Sales are up from 6,107 units. Seltos suffered a considerable decline of 3,148 units or 43.64 percent compared to the previous month. Down from 7,213 units.
Kia’s Global Reach Amidst Production Limitations
EV6 experienced a positive change, selling 83 units in May 2023 compared to zero units in April 2023. Carnival recorded a significant drop, selling zero units in May 2023 compared to 152 units in April 2023.
In summary, Kia’s overall sales in May 2023 showed a marginal increase compared to the same period last year. However, there was a notable decline in sales compared to the previous month, with the Seltos experiencing the most significant decrease. On the positive side, Carens demonstrated growth both year-on-year and month-on-month. Sales were impacted last month owing to a weeklong plant shutdown to cater to plant maintenance. May 2023 exports are reported at 6,004 units.
iMT Range: Kia’s Technological Triumph Driving Sales Success
Hardeep Singh Brar, National Head, Sales & Marketing, Kia India said, “Although we faced some production limitations due to our plant annual maintenance shutdown for a week in May which impacted our numbers, we are confident of strong performance in coming months.”
“We are witnessing a growing demand for our latest technology innovation – iMT range. This month, iMT has contributed to 38% of our total sales. While Sonet emerged on the top with 8251 units, Carens and Seltos continued to drive our growth to 19% YTD.”
