Hyundai Motor, Kia post record US sales in 2023, to rank 4th in US

South Korea’s Hyundai Motor Group saw its vehicle sales in the US rise to an all-time high in 2023, driven by its latest models of recreational vehicles and electric cars.

The automotive group’s two car-making units – Hyundai Motor Co. and Kia Corp. – likely ranked fourth with their sales performance, following GM, Toyota and Ford, industry officials said.

Hyundai Motor Group said on Thursday Hyundai, Kia and its premium brand Genesis sold a combined 1.65 million vehicles in the US market last year, up 12.1% from the year prior.

The figure represents the conglomerate’s fresh annual record high, surpassing its previous record high of 1.49 million units in 2021.

Hyundai Motor saw its US sales rise 11.5% from the previous year to 870,370 units in 2023. Kia’s US sales increased 12.8% to 782,451 units. Genesis saw its US sales jump 22.6% to 69,175 units.

The group attributed its stellar performance to robust sales of recreational cars, including sport utility vehicles, and eco-friendly cars.

The Hyundai Tucson SUV sold an all-time high of 209,624 units last year. Sales of the IONIQ 5 electric crossover also reached a record high of 33,918 units.

“We finished 2023 with record-breaking total and retail sales and continued a trend initiated almost two years ago by consistently increasing monthly total sales in response to the surge in consumer demand for our products,” said Randy Parker, chief executive of Hyundai Motor America.

“Last year was also our third consecutive year of record-breaking retail sales. This unprecedented year saw a stream of accolades for our products, a testament to our commitment to delivering exceptional vehicles. We remain dedicated to our customers and, in collaboration with our retail partners, look forward to 2024,” he said.

FOURTH-LARGEST CAR SELLER IN US MARKET

Kia said the Sportage SUV was its best-selling model with 140,780 units, followed by the K3 sedan (123,953 units) and the Telluride midsize SUV (110,765 units). The figures represent the three models’ all-time high annual sales each.

Hyundai Motor Group is certain to rank fourth in US car sales, according to Automotive News, a weekly US media outlet.

GM likely topped the list with 2.58 million vehicle sales in 2023, followed by Toyota with 2.25 million vehicles.

Ford has yet to reveal its sales figures, but will likely come out ahead of Hyundai Motor Group, industry officials said.

Stellantis, which ranked fourth in 2022, saw its sales decline 1.3% to 1.53 million units in 2023.

Major Japanese carmaker Honda sold 1.31 million vehicles last year.

Hyundai overtook the Japanese company to rank fifth in 2021 – its first such feat since the Korean automotive group entered the US market in 1986.

Kia said its SUVs accounted for 72% of its entire US sales in 2023.

"Kia is a brand on the move. Our rugged SUVs and innovative EVs are our greatest strength, and demand across the Kia lineup reached all-time highs in 2023,” said Yoon Seung-kyu, chief executive of Kia North America and Kia America.

“Groundbreaking vehicles like our new flagship EV9 three-row SUV showcase Kia’s unique ability to elevate expectations and push boundaries, and we intend to accelerate our growth trajectory in 2024 with a combination of six all-new and significantly redesigned products scheduled to arrive in showrooms.”

Write to Nan-Sae Bin at binthere@hankyung.com

In-Soo Nam edited this article.