Even as EVs Falter, Hybrids Soar... Hyundai Motor's U.S. Sales Hit an All-Time High

[Financial News] Hyundai Motor posted its best-ever September sales in the United States, driven by hybrids and SUVs despite a sharp decline in electric vehicle sales. Its third-quarter sales also reached a record high. As the EV market slowdown persists, hybrids are accounting for nearly 30% of total sales and emerging as a key pillar of the company's performance.
Hyundai Motor America said on the 1st (local time) that it sold 77,439 vehicles in the U.S. market in September, up 9% from the same month a year earlier. It was the company's best September sales performance ever.
Third-quarter sales totaled 246,896 vehicles, up 3% from the same period last year and setting a new record for a third quarter. Cumulative sales from January through September reached 697,464 units, a 3% increase from 678,349 units a year earlier.
SUVs and hybrids drove the growth. Sales of the Hyundai Palisade surged 52% year over year to 10,327 units in September. Sales of the Hyundai Tucson rose 32% to 23,164 units, while Hyundai Santa Fe sales increased 21% to 12,227 units. Sales of the Hyundai Sonata, a sedan, also climbed 39% to 5,156 units.
Hybrid sales were particularly strong, rising 39% from a year earlier to reach a record high for September. Hybrids accounted for 28% of Hyundai Motor's total U.S. sales in September. The Hyundai Santa Fe Hybrid and Hyundai Sonata Hybrid each posted their highest-ever September sales.
Hybrid sales also rose 35% year over year in the third quarter, reaching a record quarterly high. Hyundai Sonata Hybrid sales more than doubled from the same period last year, while Hyundai Santa Fe Hybrid achieved its highest quarterly sales ever.
Electric vehicle sales, by contrast, remained weak. Hyundai Ioniq 5 sales fell 65% year over year to 2,928 units in September, while Hyundai Ioniq 9 sales also dropped 65% to 374 units. Hyundai Ioniq 6 sales stood at just three units, effectively coming to a halt compared with the 814 units sold in the same month last year.
In the third quarter, Hyundai Ioniq 5 sales fell 53% to 10,382 units, Hyundai Ioniq 6 sales declined 96% to 107 units, and Hyundai Ioniq 9 sales decreased 47% to 1,663 units. In effect, growth in hybrids and internal-combustion-engine SUVs offset the gap left by declining EV sales.
Among individual models, the Hyundai Tucson posted particularly notable growth. Third-quarter sales reached 64,075 units, up 23% from a year earlier and marking the model's highest quarterly total ever. During the same period, Hyundai Elantra sales rose 18% to 48,764 units, while Hyundai Sonata sales increased 34% to 17,273 units.
Randy Parker, CEO of Hyundai Motor's North America Regional Headquarters, said, "Driven by growth across our SUV, sedan and hybrid lineups, we achieved our best-ever September sales and strongest third-quarter performance. Hybrid sales rose 39% to account for 28% of total September sales, while the Hyundai Tucson, Hyundai Palisade, Hyundai Sonata and Hyundai Santa Fe all posted double-digit growth."
He added, "Our broad product lineup and strong dealer network are providing consumers with a wide range of choices and helping sustain sales momentum."
Kia America also posted its best-ever September sales.
Kia sold 77,009 vehicles in the North American market in September. That was an 18% increase from the 65,507 vehicles sold in the same month last year.
Third-quarter sales totaled 236,659 units, up 8% from the same period last year and marking the company's highest quarterly sales ever. Kia America said major models—including the Kia Seltos, Kia Niro, Kia K4, Kia Telluride, Kia Sorento, Kia Carnival, Kia K5 and Kia Sportage—remained popular with consumers and drove overall sales.

[email protected] Kim Dong-ho Reporter