Hyundai Motor Group said Sunday that its US sales have reached the highest level in 36 years, with one in four of its cars sold globally being purchased in the all-important market.
From January to November, Hyundai Motor and Kia sold a combined 1.55 million vehicles in the US, accounting for 23.3 percent of the group’s 6.65 million units sold worldwide. This marks the first time since 1988 that the US share has exceeded 23 percent.
Last year, Hyundai set a record for US sales at 1.65 million units. This year’s total is likely to reach 1.7 million units by year-end.
In November, eco-friendly models, including electric vehicles and hybrids, made up 23.1 percent of Hyundai and Kia’s US sales, the highest monthly share recorded to date. Genesis, Hyundai’s luxury brand, also achieved record-breaking monthly sales of 8,003 units during the same period.
Globally, Hyundai Motor Group remains the third-largest automaker by sales and is on track to become the second-most profitable automaker this year only after Japan’s Toyota. The group reported an operating profit of 21.37 trillion won ($14.9 billion) for the first three quarters of 2024, surpassing Volkswagen’s 19.36 trillion won.
Industry experts attributed Hyundai’s strong US performance this year to its ability to adapt to local demand and favorable market conditions, and they pointed to emerging markets such as Southeast Asia and South America as potential areas for future growth.
