Hyundai-Kia Sales Slipped 2% in 2016

Hyundai Motor Co. and its Kia Motors affiliate sold a combined 7.88 million vehicles worldwide last year, down 2% from their total in 2015. It was the first year-on-year decline for the two brands since 1998.

Last year’s sales for Hyundai totaled 4.86 million units; the company had targeted sales of 5.01 million. Kia’s deliveries last year were 3.02 million vehicles, short of its target of 3.12 million units.

Both brands have been hurt by a product mix that consists of too many slow-selling sedans and not enough hot-selling crossover vehicles and SUVs.

Hyundai and Kia say their target this year is to hike global sales 5% to 5.08 million and 3.17 million vehicles, respectively, this year.