Hyundai Motor Group Achieves Best-Ever Sales in US in November

Hyundai Motor Group Chairman Chung Eui-sun was awarded the honor of Commander of the Most Excellent Order of the British Empire (CBE) for his contribution to the arts, culture and eco-friendly electrified mobility at the British Embassy in Jung-gu, Seoul, on Nov. 14.

Hyundai Motor and Kia Motors renewed their best-ever sales in the United States to solidify their standing as a top-three global automaker.

Without the release of new cars, Hyundai Motor Group has secured the position as a top-three global automaker.

In particular, the motor group is predicted to log the best-ever business performance in terms of profitability on the back of solid sales of value-added vehicles.

Provisional figures, released on Dec. 5, showed that Hyundai Motor and Kia Motors sold a combined 6,742,039 units across the nation during the first 11 months of this year.

The figure represents a 7.6 percent year-on-year rise over the same period of last year, thanks to soaring potential demand, caused by the effects of last year’s vehicle chip shortages.

Overseas sales are noteworthy. Hyundai Motor and Kia Motors benefited from the effects of the release of new cars in Korea.

The overseas release of Hyundai Motor’s “Santa Fe” and Kia Motor’s “EV9” is scheduled to be delayed in 2024.

(above) The all-new 2024 Santa Fe and (below) IONIQ 5 N that were showcased at 2023 Los Angeles Auto Show at Los Angeles Convention Center on Nov. 16. (Photos: Hyundai Motor Group)

Hyundai Motor Group’s sales in the United States helped global sales trend higher. Hyundai Motor and Kia Motors each have renewed the record number of sales in the United States in November.

Hyundai Motor sold 70,079 units in the United States in November, an 11 percent surge over the same period of last year, while Kia Motors sold 50,833 units, a 3 percent year-on-year increase, to achieve a new record.

Hyundai Motor and Kia Motors’ cumulative sales in the United States surpassed the number of their yearly sales last year.

The two automakers’ sales of eco-friendly cars and SUVs in the United States is outstanding. Hyundai Motor’s portion of SUVs accounted for about 82 percent of its retail sales in the United States.

It means that five out of every four U.S. customers chose SUVs. The number of eco-friendly cars sold in the United States stands at 10,695, a 42 percent year-on-year jump.

Tucson’s Plug-in Hybrid (PHEV) and Santa Fe’s Hybrid (HEV) sales surged 532 percent and 236 percent, respectively, on the back of the popularity of hybrid models. Kia Motors also saw Sportage units, including Hybrid models, lead growth.

Hyundai Motor and Kia Motors are predicted to secure the global top three automaker position in 2023. The reason is that despite of expected worry over the sagging economy, demand is keeping on.

Hyundai Motor Group has already solidified the global No. 3 position in terms of global sales following Toyota Group and Volkswagen Group in the first nine months of the year.

Hyundai Motor ran ahead by about 700,00 units before Stellantis Group, the global No. 4 automaker.

Hyundai Motor Group finds it not easy to achieve its annual sales goal in 2023.

In early 2023, Hyundai Motor and Kia Motors set their annual sales goal at 7.52 million units. Given the current sales trends, the motor group is forecast to fall150,000 units to 200,000 units short of the goal.

The reason is that Hyundai Motor Group has turned to strategies to prioritize profitability.