Hyundai Motor Co. and Kia Corp., the South Korean automakers, announced on Wednesday that their vehicle sales in the United States experienced a surge of 12 percent in July compared to the same period last year. This impressive growth can be attributed to the robust sales of SUVs and electric vehicles (EVs) by both companies.
Collectively, Hyundai and Kia sold a total of 143,787 vehicles in the U.S. in July, a significant increase from the 128,283 units sold in July 2022. Notably, these figures include the sales results of Hyundai’s independent Genesis brand. In terms of individual performances, Hyundai’s vehicle sales rose by 10 percent year-on-year, reaching 66,527 units. Genesis, on the other hand, witnessed a remarkable sales jump of 22 percent, with 6,330 units sold. Kia also experienced a sales growth of 14 percent, selling 70,930 units.
Randy Parker, the CEO of Hyundai Motor America, expressed pride in Hyundai’s eco-friendly product offerings, such as the Ioniq 5, Ioniq 6, and their hybrid and plug-in hybrid electric vehicles (HEV and PHEV). Parker mentioned that their green car sales have seen substantial month-to-month growth throughout 2023.
Hyundai’s July sales were propelled by the popularity of their SUV models, including the Santa Cruz, Tucson, Tucson PHEV, and Santa Fe HEV. Additionally, their all-electric Ioniq 5 made a significant contribution to the company’s sales performance. Kia’s Vice President in charge of sales operations, Eric Watson, shared that over 70 percent of their total sales come from utility models. With the upcoming launch of their flagship EV9 all-electric three-row SUV later this year, Watson is confident that this positive momentum will continue.
The electrified vehicle segment also witnessed substantial growth for both Hyundai and Kia. In July, Hyundai’s electrified vehicle sales surged by 78 percent year-on-year, with 15,392 units sold. Kia’s pure electric vehicle sales saw a remarkable 72 percent jump, reaching 11,106 units.
From January to July, the combined vehicle sales of Hyundai and Kia in the U.S. climbed by 16 percent, totaling 963,967 autos compared to 831,158 units during the same period last year. Looking ahead, the two carmakers have set a combined sales goal of 7.52 million units for 2023, representing a 9.8 percent increase from their 2022 sales.
Hyundai aims to sell 4.32 million autos globally this year, while Kia aims for 3.2 million units. Currently, Hyundai and Kia are the world’s third-largest carmaker by sales, trailing behind Toyota Motor Corp. and Volkswagen Group.
The surge in sales for Hyundai and Kia reflects the growing demand for SUVs and electric vehicles in the United States. With their diverse lineup of eco-friendly offerings, both automakers are successfully capturing the interest of American consumers. As they continue to innovate and introduce new models, the future looks promising for Hyundai and Kia in the U.S. market.
