Hyundai Motor (005380.KS) and Kia (000270.KS) posted their best-ever first-half results in the United States this year. Analysts credited the performance to a successful response to the EV chasm, a temporary slowdown in electric vehicle demand, led by hybrids and sport utility vehicles (SUVs) that emphasized practicality and fuel efficiency. Hyundai Motor Group showed the opposite trend even as sales fell at General Motors and Toyota, the North American market's top two players, demonstrating its competitiveness.
Hyundai and Kia sold 920,383 vehicles, including Genesis, in the US market from January to June this year, the companies said Wednesday. The figure represents a 3.0 percent increase from a year earlier.
Hyundai Motor, including Genesis, sold 489,656 units, up 2.7 percent year-on-year. It was the highest first-half sales figure on record. Kia also set a record with cumulative first-half sales of 430,727 units in the US, up 3.4 percent from a year earlier.
For Hyundai, the Tucson was the best-selling model at 117,612 units, followed by the Avante (Elantra) at 79,839 units and the Santa Fe at 64,003 units. Genesis recorded 30,988 units, up 4.6 percent. For Kia, the Sportage (94,907 units), Telluride (73,602 units) and K4 (73,579 units) sold well. The Sportage Hybrid saw its sales growth rate reach 136 percent, while the Carnival (21 percent) and Telluride (20 percent) also posted double-digit growth.
Hyundai and Kia's first-half sales of eco-friendly vehicles reached 265,514 units, surging 47 percent from a year earlier to set a record. While EV sales fell 9.7 percent to 40,193 units, hybrid vehicle (HEV) sales rose 65.5 percent to 225,321 units, driving the strong performance. Eco-friendly vehicles accounted for 31.2 percent of sales.
In June alone, they sold 155,587 units, up 10.8 percent from a year earlier. Hyundai (including Genesis) sold 85,080 units, up 11.2 percent, while Kia sold 70,507 units, up 10.4 percent.
Meanwhile, among major competitors in the US in the first half, GM sold 1,335,461 units, down 6.89 percent, Toyota sold 1,243,390 units, up 0.5 percent, and Honda sold 756,920 units, up 2.4 percent.
