South Korea's Hyundai, Kia set U.S. sales record on hybrids
· UPIJuly 2 (Asia Today) -- South Korea's Hyundai Motor and Kia posted record first-half sales in the United States, driven by strong demand for hybrid vehicles and sport utility vehicles despite elevated borrowing costs and slowing electric vehicle demand.
Hyundai Motor Group said Thursday that Hyundai, Kia and the Genesis luxury brand sold a combined 920,383 vehicles in the United States from January through June, up 3% from the same period last year.
Hyundai sold 489,656 vehicles, including Genesis models, an increase of 2.7%. Kia's sales rose 3.4% to 430,727 vehicles.
Hyundai, Kia and Genesis each recorded their highest first-half U.S. sales.
Sales of hybrid and electric vehicles rose 47% to 265,514 units, surpassing 250,000 for the first time. The vehicles accounted for 31.2% of the companies' total U.S. sales, or more than three out of every 10 vehicles sold.
Hybrid sales surged 65.5% to a record 225,321 vehicles.
Hyundai's hybrid sales increased 50% to 114,870 vehicles, while Kia's jumped 85.3% to 110,451. Both companies posted record first-half hybrid sales.
Sales of battery-powered electric vehicles, however, fell 9.7% to 40,193 units as growth in the U.S. electric vehicle market continued to slow.
Industry officials said Hyundai and Kia benefited from offering hybrid powertrains across a range of vehicle categories, allowing them to respond quickly to changing consumer demand.
Hybrid versions of the Hyundai Tucson and Santa Fe and the Kia Sportage, Sorento and Carnival helped drive sales. The Hyundai Elantra and Kia K4 also recorded steady growth in the sedan market.
Hyundai's best-selling U.S. models during the first half were the Tucson with 117,612 vehicles, the Elantra with 79,839 and the Santa Fe with 64,003.
Kia's leading models were the Sportage with 94,907 vehicles, the Telluride with 73,602 and the K4 with 73,579.
Most of the companies' leading models are compact or midsize SUVs and practical sedans popular with U.S. consumers.
Uncertainty remains for the second half of the year, including possible changes to U.S. automobile tariffs, borrowing costs and continued weakness in electric vehicle demand.
Hyundai Motor Group is expanding U.S. production and accelerating operations at Hyundai Motor Group Metaplant America in Georgia to strengthen its ability to respond to changes in trade policy and consumer demand.
The group plans to expand hybrid supplies and capitalize on the competitiveness of its SUV lineup.
"Product competitiveness and the expansion of local production are supporting Hyundai and Kia's sales in the U.S. market," an industry official said. "If the companies continue improving their sales mix around hybrids, they are likely to maintain solid performance in the second half."
-- Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260702010000827