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Hyundai Motor (005380) and Kia (000270) posted record first-half sales in the United States, in a performance analysts attribute to their successful navigation of the EV chasm — a temporary slowdown in demand — by leaning on hybrids and sport utility vehicles (SUVs) that emphasize practicality and fuel efficiency.
Hyundai Motor and Kia said on July 2 that they sold 920,383 vehicles, including Genesis models, in the U.S. market from January to June, a 3.0% increase from a year earlier.
Hyundai Motor (including Genesis) sold 489,656 units, up 2.7% year-on-year. The figure marked its highest first-half sales on record.
The Tucson (117,612 units) sold the most, followed by the Avante (Elantra, 79,839 units) and the Santa Fe (64,003 units). Genesis rose 4.6% to 30,988 units.
Hyundai Motor's U.S. unit said the Avante Hybrid, Sonata Hybrid, and Tucson Hybrid drove the sales increase.
Kia also set a record with cumulative first-half sales of 430,727 units in the U.S., up 3.4% from a year earlier.
The Sportage (94,907 units), Telluride (73,602 units), and K4 (73,579 units) were strong sellers.
Sportage Hybrid sales surged 136%, while the Carnival (21%) and Telluride (20%) also posted double-digit growth.
Hyundai Motor and Kia sold a record 265,514 eco-friendly vehicles in the first half, up 47% from a year earlier.
Although EV sales fell 9.7% to 40,193 units, hybrid vehicle (HEV) sales climbed 65.5% to 225,321 units, driving the strong performance. Eco-friendly vehicles accounted for 31.2% of sales.
In June alone, the companies sold 155,587 units, up 10.8% year-on-year. Hyundai Motor (including Genesis) rose 11.2% to 85,080 units, while Kia gained 10.4% to 70,507 units.
Meanwhile, among major U.S. competitors, GM sold 1,335,461 units in the first half, down 6.89%; Toyota sold 1,243,390 units, up 0.5%; and Honda sold 756,920 units, up 2.4%.
