hyundai Motor Group accounts for 23.3% of US sales this year
From January too November of this year, one out of four new cars from Hyundai Motor group were sold in the U.S. market.
According to Hyundai Motor group on the 8th, Hyundai Motor Company and Kia Motors sold 1,548,333 units in the U.S.market alone as of November this year. This figure amounts to 23.3% of the total vehicles (6,656,584 units) sold by Hyundai and Kia in the global market during the same period.
This is the first time as 1988 (28.8%,261,782 units) that Hyundai Motors and Kia’s U.S.sales share exceeded 23%. In the early to mid 1990s, the share of US sales fell to single digits, but remained in the low to mid 20% range from 2001 to 2005.Afterwards,the share of U.S. sales, which remained in the mid to high 10% range, recovered to the 20% range during the novel coronavirus infection (COVID-19) pandemic. After recovering to the 20% level for the first time in 16 years at 22.3% in 2021, it reached 21.5% in 2022 and 22.6% in 2023.
Absolute sales volume is also expected to hit a record high for the year.Hyundai Motor Company and Kia Motors sold 1,652,821 units annually in the U.S. market last year. If the current trend continues, it is indeed expected that this year will end the year with annual US sales of approximately 1.7 million units, surpassing last year’s record.
Hyundai Motor Company and Kia Motors are showing strong sales in the U.S. market, focusing on eco-friendly vehicles such as sports utility vehicles (SUVs), luxury brand Genesis, and hybrid and electric vehicles. In particular, ‘Santa Cruz’, a pickup truck launched by hyundai Motor Company for North American strategic use, and Kia’s Telluride, a strategic large SUV for North American use, are also receiving positive responses in the local market.
An automobile industry official said, “If the ‘Metaplant America’ built by Hyundai Motor Group inGeorgia, USA begins full-scale production next year, local sales are likely to increase further in the future. However, tariffs and electric vehicle subsidies from the second Trump administration in the US are expected to increase.” “as policy changes can act as important variables, an agile response is necessary,” he pointed out.
Reporter Jaehee Han [email protected]
- I’m angry
- 0dog