Hyundai Motor and Kia's U.S. Sales in April Up 15%... Surpassing Honda and Chasing Toyota

Hyundai Motor Company and Kia recorded double-digit sales growth in the United States in April this year. Continuing their growth trend from the first quarter, they have already surpassed the sales volume of the Japanese brand Honda. Now, they are closely chasing Toyota, the dominant player in the U.S. market.

On the 2nd (local time), Hyundai Motor Company and Kia announced that they sold 144,874 units in the U.S. market in April this year, a 15.2% increase compared to the previous year. Hyundai sold 76,669 units, up 14.9%, and Kia sold 68,205 units, up 15.5%. Genesis also sold 5,857 units, a 16.2% increase.

The combined sales of Hyundai Motor Company and Kia (including Genesis) in April exceeded Honda’s 116,082 units by about 30,000 units. Although Honda showed strong performance with about a 25% increase in sales in April compared to the previous year, it still fell short of Hyundai Motor Company and Kia’s results. Based on cumulative sales from January to April, Hyundai Motor Company and Kia are ahead by more than 100,000 units.

Now, Hyundai Motor Company and Kia are closely pursuing Toyota, the leader in the U.S. imported car market. Toyota (including Lexus) sold 186,310 units in the U.S. market in April, a growth of only 0.7% compared to the previous year. The monthly sales gap between Hyundai Motor Company and Kia and Toyota has narrowed to about 40,000 units.

Avante Hybrid

Hyundai Motor Company and Kia explained that this strong performance is the result of expanding a diverse lineup focused on eco-friendly vehicles. In Hyundai’s April U.S. retail sales, eco-friendly vehicles accounted for 18%. Sales of eco-friendly vehicles such as the Avante HEV (57%), Santa Fe HEV (259%), Tucson PHEV (47%), and Tucson HEV (101%) showed double-digit growth compared to the previous year. Kia’s sales increased mainly in sport utility vehicles (SUVs) such as the Carnival (182%), Seltos (47%), and Soul (49%).

Randy Parker, CEO of Hyundai Motor America, said, "Strong demand for Hyundai products and a diverse lineup are driving sales growth," adding, "Although there are difficulties due to rising interest rates, there is clearly demand in the market."

However, due to the impact of the U.S. Inflation Reduction Act (IRA), sales of pure electric vehicles such as the Hyundai Ioniq 5 and Kia EV6 decreased compared to the previous year. The Ioniq 5 sold 2,323 units, down 13% from the previous year, and the EV6 sold 1,241 units, down 53%.

Genesis recorded six consecutive months of sales growth in the U.S. In April alone, it sold 5,857 units, maintaining a double-digit growth rate (16%). Sales of the new GV70 were fully reflected from April, setting a monthly record high. Claudia Marquez, Genesis North America COO, said, "Although the GV70 electric vehicle no longer qualifies for subsidies in the U.S. due to the IRA, we expect sales to increase," adding, "We will respond with various measures such as electric vehicle leasing."

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