Hyundai Motor Company and Kia have broken their annual sales records in the U.S. market for two consecutive years. This is the result of quickly responding to the changing U.S. market demand by offering various powertrain models, including internal combustion engines, hybrids, and electric vehicles. Hyundai Motor Group plans to continue its upward trend in market share this year by increasing production at its new plant in Georgia, USA, which began operations last year.
On the 3rd (local time), Hyundai Motor America announced that its annual sales volume for 2024 increased by 4% compared to the previous year, reaching 836,802 units. Kia America also announced that its annual sales volume last year rose by 2% year-over-year to 796,488 units.
These figures represent record-high sales for both Hyundai and Kia in the U.S. market. Hyundai and Kia set new all-time sales records in the U.S. market for two consecutive years following 2023.
The reason Hyundai and Kia were able to rapidly increase their market share in the U.S. is that they possess a diverse lineup of powertrains, including internal combustion engines, hybrids, and electric vehicles, allowing them to quickly respond to customer demand. In particular, the popularity of hybrids has been rising in the U.S., and hybrid models contributed to sales growth toward the end of the year. In fact, looking at last year’s U.S. compact car market sales, brands with hybrid lineups performed well. Brands such as Hyundai, Kia, Toyota (3.7%), Ford (4.2%), and Honda (8.8%) showed strong sales performance.
The Hyundai models that set new sales records in the U.S. last year include the Tucson Hybrid, Ioniq 5, Santa Fe Hybrid, and Palisade.
Looking at December sales alone, the Santa Fe Hybrid (87%↑), Tucson Hybrid (133%↑), and Ioniq 5 (41%↑) set record-high sales for the same month, driving growth. Monthly sales of hybrid vehicles and electric vehicles increased by 85% and 12%, respectively.
Randy Parker, CEO of Hyundai Motor North America, said, "Providing consumers with a variety of powertrain options to meet their needs was key," adding, "With new models like the Ioniq 9 and increased production of Hyundai vehicles in the U.S., this growth trend is expected to continue."
Kia’s annual electric vehicle sales increased by 74% year-over-year, accounting for 7% of total sales.
Last year, six models including the EV9 (1869%↑), Sportage (15%↑), Carnival (14%↑), Forte·K4 (13%↑), EV6 (6%↑), and Telluride (4%↑) achieved record-high sales.
Seunggyu Yoon, CEO of Kia North America, said, "Thanks to the successful launch of the flagship electric SUV EV9 and the introduction of the Carnival Hybrid, Kia was able to solidify its leadership in the electrification market," adding, "We will continue this positive upward trend by offering high-quality, consumer-focused products."
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