Hyundai, Kia see US sales increase for 13th consecutive month

South Korea’s largest automaker Hyundai Motor Co. and its sister company Kia Corp. posted a record 13th consecutive month sales increase last month in the US. 

The two automakers said on Monday they together shipped 143,646 units to the US in August this year. By brand, Hyundai Motor (including Genesis) sold 71,499 units, while Kia sold 72,147 units, representing a 3.0% and 9.2% increase from the previous year.

Sales of eco-friendly cars totaled 27,900 units for Hyundai Motor and Kia combined, marking an impressive 87.1% increase from the same period last year. This achievement sets a new record for monthly sales. The sales proportion also reached a record high of 19.4% for the month. Hyundai Motor (15,502) and Kia (12,398) achieved their highest-ever monthly sales records.

Despite concerns about the US Inflation Reduction Act (IRA), electric vehicle (EV) sales contributed significantly to eco-friendly car growth. Combined EV sales for Hyundai Motor and Kia reached a historic high of 11,267 units, marking a substantial 176.3% increase from 2022. This sales trend has continued for four consecutive months.

For EV models, IONIQ 5 recorded 3,572 units (a 135.6% increase), and IONIQ 6 recorded 1,663 units. Kia's new Niro EV saw a remarkable 731.3% increase compared to the same period last year, achieving 1,621 units. The EV6 saw a 33.1% increase, recording its highest sales of the year at 2,449 units.

Genesis sold 6,453 units, showing a 26.5% increase compared to the same period last year. This marks two consecutive months of the highest-ever monthly sales record, surpassing the previous record of 6,330 units in July. Models such as GV70 (2,451), GV80 (1,938), and G70 (1,394) continued to perform well due to increased local production at US factories. The G70 and GV80 are the best-selling models this year.

SUV and van sales for Hyundai Motor (including Genesis) reached 53,371 units, while Kia sold 51,551 units, resulting in a combined total of 104,922 units and a strong growth rate of 14.3% compared to the previous year. Notably, Kia's SUV and van sales growth has maintained a double-digit growth rate for 13 consecutive months since August last year.

Write to Sung-Soo Bae at baebae@hankyung.com