Hyundai Motor Company and Kia Corporation set October sales record in U.S.; one in three vehicles is eco-friendly

[Financial News] Hyundai Motor Company and Kia Corporation set a new October sales record in the U.S. market. Their combined sales topped 160,000, up 9.5% from a year earlier, while sales of eco-friendly vehicles surged 56%. Kia in particular drove overall results, with its monthly eco-friendly vehicle sales in the U.S. topping 30,000 for the first time.
Hyundai Motor Company and Kia Corporation said on the 4th that they sold a total of 160,083 vehicles in the U.S. market last October, up 9.5% from the same period a year earlier. Both companies recorded their highest-ever October sales. They continued to grow as sales of eco-friendly vehicles, led by hybrids (HEVs), expanded rapidly and demand for sport utility vehicles (SUVs) provided support.
By brand, Hyundai Motor Company sold 80,075 vehicles, including GENESIS, up 3.8% from the same period a year earlier. Excluding GENESIS, sales of Hyundai Motor Company’s brand vehicles rose 4.8% to 73,452.
Hyundai Motor Company’s results were led by its flagship SUV, the Hyundai Santa Fe, and the Hyundai Elantra sedan. Santa Fe sales rose 52.2% from a year earlier to 17,959, while Elantra sales increased 17.5% to 12,011. The Hyundai Tucson also contributed to sales growth, with 17,808 units sold.
Kia Corporation sold 80,008 vehicles, up 16.0% from the same period a year earlier, joining Hyundai Motor Company in exceeding 80,000 monthly sales. The gap between their sales was just 67 vehicles.
SUVs led Kia Corporation’s growth. The Kia Telluride surged 63.4% from a year earlier to 14,009 units, while the Kia Seltos rose 43.2% to 8,052. Kia Carnival sales also increased 17.4% to 7,751. The Kia Sportage was the company’s best-selling model, with 17,977 units sold, while Kia K4 sales totaled 11,391.
By contrast, GENESIS, Hyundai Motor Company’s luxury brand, sold 6,623 vehicles, down 5.6% from a year earlier. Genesis GV70 sales rose 9.8% to 3,347, but overall sales declined as GV80 sales fell 19.4% to 1,879.
The most notable development in these results was the expansion of eco-friendly vehicle sales. Hyundai Motor Company and Kia Corporation sold a total of 54,505 eco-friendly vehicles in the U.S. in October, up 56.0% from the same period a year earlier. Eco-friendly vehicles accounted for 34.0% of total sales, an all-time high. In other words, at least one in every three Hyundai Motor Company and Kia Corporation vehicles sold in the U.S. was eco-friendly.
Hybrid sales grew particularly rapidly. The two companies sold 48,559 hybrid vehicles, up 56.1% from a year earlier. Hyundai Motor Company sold 21,150, an increase of 19.0%, while Kia Corporation sold 27,409, a surge of 105.6%. Kia Corporation’s hybrid sales more than doubled, boosting its overall eco-friendly vehicle results.
Electric vehicle sales also rose. Hyundai Motor Company and Kia Corporation sold 5,946 electric vehicles in the U.S., up 55.1% from the same period a year earlier. However, results varied by brand: Hyundai Motor Company sold 2,297, down 8.2%, while Kia Corporation sold 3,649, a surge of 174.2%.
As a result, Kia Corporation’s total eco-friendly vehicle sales rose 111.9% from a year earlier to 31,058. This was the first time Kia Corporation’s monthly eco-friendly vehicle sales in the U.S. had topped 30,000. Hyundai Motor Company, including GENESIS, sold 23,447, up 15.6%.
Hyundai Motor Company and Kia Corporation also stood out for their growth compared with major U.S. automakers. Over the same period, Toyota sold 221,507 vehicles, up 5.7% from a year earlier, and Honda sold 119,952, up 8.0%. Subaru sales rose 6.0% to 54,090, while Mazda sales increased 25.0% to 31,446.
[email protected] Kim Dong-ho Reporter