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Hyundai Motor Group Achieves Record US Sales in 2023, Led by SUVs and Electric Vehicles

Surge in Recreational and Eco-Friendly Vehicle Sales Propels Hyundai to Fourth in U.S. Market
South Korea
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Hyundai Motor Group experienced a landmark year in 2023, setting a new sales record in the U.S. market. This surge was primarily driven by its latest recreational vehicle models and electric cars. The group, which encompasses Hyundai Motor Co., Kia Corp., and the premium brand Genesis, sold a combined 1.65 million vehicles in the U.S., marking a 12.1% increase from the previous year.

This achievement surpasses Hyundai’s previous best of 1.49 million units in 2021. Hyundai Motor registered an 11.5% increase in its U.S. sales, totaling 870,370 units, while Kia reported a 12.8% rise with 782,451 units. Genesis, the group’s luxury arm, saw a significant 22.6% jump in U.S. sales, reaching 69,175 units.

Key contributors to this success were Hyundai’s Tucson SUV, which sold a record 209,624 units, and the IONIQ 5 electric crossover, with sales reaching a high of 33,918 units. Randy Parker, CEO of Hyundai Motor America, credited the company’s consistent sales growth and customer-centric approach for this unprecedented performance.

Kia’s portfolio also performed exceptionally, led by the Sportage SUV with 140,780 units sold, followed by the K3 sedan and the Telluride midsize SUV, both achieving all-time high annual sales.

Industry rankings place Hyundai Motor Group fourth in U.S. car sales, trailing behind GM, Toyota, and Ford, as per Automotive News. This is a notable ascent from fifth place in 2021, overtaking major Japanese carmaker Honda. Kia’s success was heavily influenced by its SUVs, which constituted 72% of its U.S. sales.

Yoon Seung-kyu, CEO of Kia North America and Kia America, emphasized the brand’s growth trajectory, fueled by robust SUV and EV sales. Kia’s ambitious plans for 2024 include launching six all-new or significantly redesigned products, aiming to continue this upward trend.

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