Hyundai-Kia February US Sales Up Over 15%... SUV Plays Key Role

Palisade, Kona, Telluride SUV Sales Up 28%
Twice the Average Growth Rate of Vehicle Sales in the US Market

Kia's Telluride (left) and Hyundai's Palisade

[Asia Economy Reporter Minwoo Lee] Hyundai Motor and Kia Motors saw their U.S. sales last month increase by more than 15%, reaching a market share of 4%. Strong sales of SUV models such as the Palisade, Kona, and Seltos appear to have been the main drivers.

According to IBK Securities and global automotive market research firm MarkLines on the 8th, Hyundai and Kia's U.S. sales last month rose 15.8% and 20.2% respectively compared to the same month last year. This performance is more than double the 8.6% increase in new car sales in the U.S. market during the same period.

Specifically, Hyundai's total sales last month were 55,000 units. Passenger car sales increased by 2%, and light trucks (SUVs, pickup trucks) by 28%. Compared to the overall U.S. market where passenger car sales decreased by 2.9% and light truck sales increased by 13.4% during the same period, this is considered a solid achievement. The growing preference for light trucks in the U.S., combined with the new model effects of the Palisade, Kona, Venue, and strong performance of the Ioniq eco-friendly vehicles, contributed to these results. Hyundai's market share rose by 0.2 percentage points to reach 4.0%.

During the same period, Kia sold 52,000 units, with passenger car sales up 9% and light truck sales up 28%. Increased sales of new models such as the Telluride and Seltos were key factors. Models like the Rio, Forte, Sportage, and Sedona also showed growth. As a result, Kia's market share increased by 0.4 percentage points to 3.8%.

Meanwhile, the number of selling days last month was 26, two more than the 24 days in the same month last year. This generally led to higher sales volumes for all original equipment manufacturers (OEMs) in the U.S. The seasonally adjusted annual rate (SAAR) was 17.04 million units, up 2.0% from 16.7 million units in the same month last year. Lee Sang-hyun, a researcher at IBK Investment & Securities, said, "Although the industrial demand in the U.S. market is expected to show a slight downward trend, Hyundai and Kia's market share improvement trend is likely to continue for some time due to the annual effect of the SUV new models introduced last year."

This content was produced with the assistance of AI translation services.