Automakers blame supply chains for dismal May sales

While customer demand for new cars remains strong, automakers are struggling yet again to put inventory on dealer lots. Early reports of May sales paint a bleak picture of an industry decimated by supply-chain bottlenecks and desperate to get their hands on units for retail customers.

Hyundai saw a 34% drop in sales compared to last May. While some models that have seen lagging sales were among the bad news, strong performers such as the Kona (-42%), Santa Fe (-18%) and Tucson (-25%) were down significantly. The only positive points for Hyundai were Ioniq 5 and Santa Cruz, neither of which was in showrooms this time last year.

"There continues to be extraordinary consumer demand for Hyundai vehicles, with dealers selling every vehicle they get," said Randy Parker, senior vice president, national sales, Hyundai Motor America. "We expect demand to remain strong and inventory levels to improve later in 2022."