Hyundai Motor Co. led the way for Asia-based automakers’ U.S. sales gains in the month of June as cautioning consumer confidence cooled demand for new cars and trucks.
Sales at Hyundai, which is South Korea’s leading automaker, was capable of taking a leap of 35% from the preceding year and set a record for the month, the company’s U.S. unit said yesterday.
Other boosts comprised 6.8% for Toyota Motor Corp., which is the world’s largest automaker, 6.2% for Honda Motor Co. and 11% for Nissan Motor Co.
June was rather more of a disappointing phase, Al Castignetti, Nissan’s U.S. Vice President and General Manager of its namesake brand, said in an interview.
He said that consumer demand and confidence saw a low trend and the expectations were not met with.
The monthly results followed information on manufacturing, unemployment assertions and home sales that triggered apprehensions in regards to the economic recovery, which can be seen faltering.
The Conference Board this week said that its confidence index sank to 52.9 in the month of June from a revised 62.7 in May.
Toyota’s market share for the month plunged 14.3%, from 15.3% the previous year, according to Woodcliff Lake, New Jersey-based Autodata.