Hyundai Motor Sets New Record in the US in January... Thriving with SUVs and High-Value Vehicles

[Asia Economy Reporter Kiho Sung] Hyundai Motor Company achieved its highest-ever sales record in the U.S. market last year and continues to maintain an upward trend this year. Notably, while Japanese brands have recorded negative sales figures in the U.S. market since the beginning of this year, Hyundai is sustaining steady sales growth by leading with high value-added vehicles. Hyundai plans to continue targeting the U.S. market through strategies focused on product diversification and strengthening sales of high value-added models.

According to Hyundai Motor Group on the 5th, Hyundai’s sales in the U.S. in January this year reached 51,510 units, an 11.5% increase compared to the same period last year. This marks Hyundai’s highest January sales record ever in the U.S. market.

Hyundai’s strong performance is driven by increased sales of high value-added vehicles. Genesis sold 3,638 units, a 29.3% increase compared to the same period last year, continuing a 14-month streak of rising sales. Additionally, sport utility vehicles (SUVs) have emerged as key products. The compact SUV Tucson sold the most with 13,085 units, followed by Santa Fe with 7,354 units and Palisade with 6,334 units. Seven out of every ten Hyundai vehicles sold in the U.S. are SUVs.

Kia sold 42,488 units in the U.S. last month, a 5.5% decrease compared to the same period last year. This decline was influenced by reduced sedan sales, but sales of mid-to-large SUVs such as Sorento, Telluride, and Sportage increased compared to the same period last year.

Particularly encouraging is the significant increase in eco-friendly vehicle sales in the U.S. in January. Hyundai and Kia sold a total of 10,791 eco-friendly vehicles, including the Tucson Hybrid, Ioniq 5, and Niro EV, representing a 220.1% increase compared to the same period last year.

On the other hand, Japanese brands continue to struggle. Toyota’s sales decreased by 5.1% compared to January last year, while Honda and Mazda saw sales declines of 19.8% and 16.5%, respectively. Compared to Hyundai and Kia’s combined sales of 93,998 units in the U.S. in January, a 3.1% increase from the previous year, these results show contrasting performances. Furthermore, with the upcoming full-scale sales launch of the EV6 following the Ioniq 5, electric vehicle sales are expected to increase even more.

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