Hyundai Motor's 15 Million Cumulative Sales in the U.S. After 36 Years

After First Export in 1986, 5 Million Units Cumulative in 21 Years
10 Million Units in 2015 · 15 Million Units in 2022

[Asia Economy Reporter Choi Dae-yeol] Hyundai Motor Company, which entered the U.S. market in January 1986 by exporting the Pony Excel, has reached a cumulative sales record of 15 million vehicles in the United States. The company announced on the 22nd that it recently delivered the 15 millionth new car to a customer through its U.S. subsidiary.

It took 21 years and 6 months to reach the first 5 million sales, then 8 years and 3 months to reach 10 million (October 2015), and another 7 years and 2 months to reach 15 million (December 2022). Randy Parker, CEO of Hyundai Motor America, said, "We are pleased to mark the end of this year with the milestone of 15 million cumulative sales."

The company first entered the U.S. market by exporting the compact sedan Excel, manufactured at the Ulsan plant in 1986. At the time of entry, there were sarcastic remarks suggesting the brand name was just to imitate the then-popular Honda, but Hyundai has now firmly established itself as the 5th largest maker locally, surpassing Honda (6th place).

Hyundai Motor America (HMA) delivered its 15 millionth new car to a customer (third and fourth from the left in the photo) on the 21st (local time) at the dealer shop "West Herr Hyundai" in Williamsville, New York.

In 2005, the 20th year since entering the U.S. market, Hyundai built a manufacturing plant in Alabama in the southern United States. The best-selling model in the U.S. is the compact sedan Avante (known locally as Elantra), with 3.53 million units sold from 1991 to this year. It was followed by Sonata (3.14 million), Santa Fe (1.91 million), Accent (1.36 million), and Tucson (1.34 million).

In the early days of entry, sales were mainly focused on small and compact sedans, but considering local consumer preferences, the company expanded its mid-to-large lineup, and two of the top five models are now sport utility vehicles (SUVs). The company explains that this has not only improved profitability but also enhanced the export capabilities of the Korean automotive industry.

The outlook for eco-friendly vehicles, which have high future growth potential, is even brighter. Due to high oil prices and environmental regulations, demand for electric and hybrid models has increased locally as well, thanks to Hyundai’s early preparation for electrification transition. The first dedicated electric vehicle, the Ioniq 5, which began sales in the U.S. in December last year, has sold more than 20,000 units this year alone. The Kona Electric also sold nearly 9,000 units this year. The Meta Plant America (HMGMA), scheduled to start operations in 2025, is a dedicated electric vehicle plant with an annual capacity of 300,000 units.

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