Hyundai-Kia Tie-Up Falls Further Behind GM, VW on Delivery Drop

Group’s 2017 worldwide auto sales drop to five-year low
Automakers count on new SUV models to help revive demand

New Hyundai Motor Co. vehicles sit parked before being shipped from the Hyundai Motor Manufacturing Alabama (HMMA) facility in Montgomery, Alabama, U.S., on Wednesday, July 19, 2017. The U.S. Census Bureau is scheduled to release durable goods figures on July 27.Photographer: Luke Sharrett/Bloomberg

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By Sohee Kim

January 2, 2018 at 12:00 AM UTC

Updated on

January 2, 2018 at 12:02 PM UTC

This article is for subscribers only.

Third time’s the charm, but not for Korea’s largest carmaking group.

Hyundai Motor Co. and affiliate Kia Motors Corp. said Tuesday they sold 7.25 million autos last year, a million short of the companies’ joint target and missing forecasts for the third consecutive year. Deliveries fell to the lowest level since 2012. The group is forecasting a 4.1 percent increase to 7.55 million vehicles for 2018.