Hyundai Motor and Kia Continue Strong US Sales in July (Comprehensive)

Genesis G80 Electrified Model

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Company and Kia continued their strong sales performance in the U.S. market in July, following the first half of this year.

On the 3rd (local time), Hyundai Motor America (HMA) announced that it sold 68,500 units (excluding Genesis) in the U.S. market last month, a 19% increase compared to the same period last year. The cumulative sales for the year through July reached 475,635 units, the highest ever. The year-over-year cumulative growth rate is 44%.

Retail sales to general customers last month increased by 14% to 61,227 units. The surge in eco-friendly vehicle retail sales, which rose by 399%, led to this strong performance. Sales of electric vehicles, hybrids, and hydrogen vehicles such as Ioniq, Kona, and Nexo increased significantly.

The luxury model Genesis also gained popularity, selling 5,180 units last month, a 312% increase compared to the same period last year. Genesis has maintained record monthly sales from May through July.

Randy Parker, Senior Vice President of Sales at HMA, said, "Sales increased not only for regular vehicles but also for eco-friendly models," adding, "Consumers responded well to Hyundai’s diverse and powerful lineup."

Kia’s July sales were recorded at 70,099 units, a 34% increase compared to the same period last year. The cumulative annual sales reached 448,610 units, marking the highest record ever with a 42% increase compared to the same period last year.

Sales of sport utility vehicles (SUVs) such as Sportage and Telluride increased, and models like Carnival and K5 also showed strong performance.

The recovery of the U.S. automotive market appears to have influenced these strong results. According to Automotive News, a U.S. automotive industry media outlet, the sales volume of six local automakers that have disclosed their July sales results so far increased by about 22% compared to the previous year.

Sean Yoon, Head of Kia North America, emphasized, "Kia sold 34% of available inventory in July last year, but this July, we sold more than 74% of inventory," adding, "Following the first half, we are continuing the record-breaking sales streak in the second half as well."

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