Hyundai Motor Group Luxury Cars and Electric Vehicles Each Reach 200,000 Units Sold

Genesis Solidifies Position as Next-Generation Food with SUV Success... Strengthening Presence in US Market
Electric Vehicles Also Steadily Growing... 2026 Target Raised from 1 Million to 1.7 Million Units

[Asia Economy Reporter Yu Je-hoon] Hyundai Motor Group's luxury and electric vehicle models each sold more than 200,000 units last year, solidifying their position as the 'next-generation growth engines.'

According to the automotive industry on the 6th, the Genesis brand's annual sales last year surpassed 200,000 units. Although the final tally has not yet been announced, considering the provisional sales excluding overseas sales last month (196,026 units) and last month's U.S. market sales (4,999 units), surpassing 200,000 units is highly likely.

Genesis first exceeded 100,000 units sold in 2020, five years after the brand's launch in 2015, with 128,000 units sold, and is now on the verge of surpassing 200,000 units just one year later. The rapid growth of Genesis is attributed to the popularity of its sport utility vehicle (SUV) models such as the GV70 and GV80. As the SUV lineup, which leads the market, was strengthened, sales began to surge.

Another major reason is its solidified presence in the United States, the world's largest automobile market. In fact, the GV70 received favorable reviews, being selected as a finalist for the '2022 North American Car of the Year.' Reflecting this, Genesis sales in the U.S. last year grew rapidly by 202.9% year-on-year to 49,621 units. Hyundai Motor Group's record-high sales in the U.S. market last year (about 1.48 million units) were largely supported by this growth.

Hyundai Motor Group's other pillar, electric vehicle sales, surpassed 200,000 units early on. The cumulative electric vehicle sales from January to November reached approximately 220,000 units, a 37% increase compared to the previous year. This already exceeds the previous year's sales volume (about 198,000 units). This is due to the full-scale domestic and overseas sales of Hyundai's Ioniq 5 and Kia's EV6, which are based on the dedicated electric vehicle platform E-GMP.

This year, Hyundai Motor Group's luxury and electric vehicle performance is also expected to continue smoothly. In the case of Genesis, the brand has already launched in the Chinese and European markets last year, taking on new challenges, and plans to actively release locally customized models as well as electrified versions of the G80 and GV70, and the first dedicated electric vehicle GV60.

The electric vehicle sector, with new models such as the Ioniq 6, Niro EV, and electrified GV70, is the same. Recently, sales targets have also been significantly raised. Hyundai Motor President Jang Jae-hoon raised this year's electric vehicle sales target to 220,000 units (Hyundai and Genesis) in an interview with foreign media, and expanded the group-wide electric vehicle sales target for 2026 from 1 million units to 1.7 million units.

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