Hyundai Motor's February US Sales Hit New Record... SUV Popularity (Comprehensive)

52,424 Units Sold... Record High Sales
New Car Effect Also Evident
Contrast with Honda and Subaru

[Asia Economy Reporter Choi Dae-yeol] Hyundai Motor's sales in the United States last month set an all-time high for February. This achievement comes amid a global shortage of automotive semiconductors, which has disrupted new car production and sales for automakers worldwide.

According to sales figures released by various companies on the 2nd, Hyundai sold 52,424 units in the U.S. last month, an increase of about 8.5% compared to the same period last year. This broke the record for the highest sales in February, which is typically considered an off-season.

Sport utility vehicle (SUV) models such as Tucson, Palisade, and Venue led the record-breaking sales for February. The new models Ioniq 5 and Santa Cruz, which were not available last year, also contributed significantly. The premium brand Genesis sold 3,482 units last month, an increase of more than 45.0% compared to the same period last year. This is the highest ever for February and marks 15 consecutive months of year-over-year growth since December 2020.

Kia also saw a 2.3% increase from a year ago, selling 49,182 units. The electric vehicle EV6, which was not available last year, sold 2,125 units, and sales of models like Niro and Telluride increased. The electric vehicle sales volume reached the highest monthly level.

Eric Watson, Vice President of Kia America, said, "Electric vehicles, hybrids, and plug-in hybrid models continue to set sales records, accounting for 13% of total sales, driving our electrification strategy."

The new Sportage, recently started production at Kia's U.S. plant. Brian Kemp, Governor of Georgia, USA (fifth from the left), and company officials are taking a commemorative photo in front of the vehicle.

It is notable that growth continued despite market contraction caused by the semiconductor supply shortage. According to local media Automotive News, which compiled forecasts from market research firms JD Power and LMC Automotive, the U.S. new car sales market last month was expected to shrink by about 10-11% compared to last year. The total sales volume of five companies, including Hyundai Motor Group, that disclosed their sales figures for the previous month by this date, decreased by about 8% compared to February last year. Factory shutdowns due to delayed parts supply have frequently occurred again this year following last year.

Thomas King, President of JD Power, explained, "New car supply conditions show no signs of short-term improvement, with retail inventory remaining below 900,000 units for four consecutive months. Last month's sales were determined more by the number of vehicles delivered to dealerships than by actual demand."

Japanese brands that directly compete with Hyundai and Kia mostly saw declines. Toyota, which ranked first in the U.S. last year, recorded 162,587 units sold (including Lexus), down 11.2%. Honda, which fiercely competes with Hyundai Motor Group for market share, saw sales drop by more than 20% to 84,394 units. Subaru also sold 44,866 units, down 7.1%.

Hyundai Motor Company USA officials are taking a commemorative photo after receiving an award in the JD Power Durability Quality Survey announced on the 10th of last month (local time). The Hyundai Sonata and Santa Fe ranked first in the mid-size sedan and mid-size SUV categories, respectively.

In the JD Power survey, recognized as the most authoritative local vehicle quality study, Kia was acknowledged for quality by ranking first overall among mainstream brands for the first time. In the survey released last month, Hyundai ranked third, and Genesis ranked fourth.

Hyundai Motor Group's leadership in eco-friendly vehicle sales in the U.S. is also seen as a positive factor for the mid to long term. Except for Tesla, there are no standout brands among local eco-friendly vehicles, so major brands are strengthening their electric vehicle lineups to capture market share.

Hyundai and Kia sold 5,925 electric vehicles locally, nearly six times more than in February last year. Following the launch of the Ioniq 5 at the end of last year, the newly added EV6 last month also received favorable reviews locally. Hybrid vehicle sales increased by more than 200% to 9,268 units. Total eco-friendly vehicle sales reached 15,218 units, up about 271% during the same period.

A scene from Kia's 'Robo Dog' commercial aired during last month's Super Bowl. Kia promoted robots and the electric vehicle EV6 in this advertisement.

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