Hyundai Motor Co. and Kia Corp. captured a record 10.9% of the US auto market in October, marking the largest market share expansion of any major automaker since the pandemic began, according to the Korean Economic Daily.
The Korean auto duo, both controlled by Hyundai Motor Group, added 3.4 percentage points to their combined US presence since 2019, when they held just 7.5% of the market. The gains have come at the expense of traditional Detroit giants GM, Ford, and Stellantis, all of which have ceded ground over the same period.
Hybrid SUVs drove the surge. Consumer appetite for models like the Tucson, Santa Fe, Sorento, Palisade, and Telluride helped boost Hyundai-Kia’s share of the US hybrid segment from 5% in 2020 to 14% this year. Through October, the group sold approximately 257,340 hybrids, already surpassing its full-year 2024 total of roughly 222,500 units.
The picture is less rosy for pure electric vehicles. Sales of battery-powered models slumped after the group lost eligibility for the $7,500 federal tax credit, prompting Kia to delay several EV launches including its first electric sedan.
Recent tariff relief may help sustain momentum. Following a US-South Korea agreement lowering auto tariffs from 25% to 15%, Hyundai-Kia now faces the same import duties as Japanese rivals. Expanded production at the group’s Georgia facilities should further bolster its competitive position heading into 2026.
