Image credits - ET AUTO
Hyundai Motor Group is gearing up for an ambitious target in the U.S., following a record-breaking year with sales exceeding 1.6 million Hyundai and Kia vehicles. The focus for 2024 is set on achieving a cumulative sale of 1 million eco-friendly vehicles since 2011 and delivering 300,000 luxury Genesis cars.
Last year witnessed Hyundai and Kia’s combined sales in the U.S. surging to an unprecedented 1.6 million vehicles, marking a 12 per cent increase from 2021. This achievement propelled them into an elite group of only six brands to surpass the 1.5 million milestone in 2023. Hyundai Motor, including its luxury brand Genesis, led the charge with over 873,000 vehicles sold, breaking the 800,000-unit threshold for the first time. Genesis experienced its best sales year, contributing to Kia’s exceptional performance, which neared 780,000 units.
Building on the momentum of their stellar performance, Hyundai and Kia have set their sights on eco-friendly and luxury vehicles for 2024. The primary objective is to achieve the significant milestone of 1 million eco-friendly vehicle sales in the U.S. since the introduction of Sonata and K5 HEVs in 2011.
As of now, Hyundai and Kia have sold close to 967,000 eco-friendly vehicles in the U.S., comprising three-quarters of hybrids, a fifth of electric vehicles (EVs), and the rest hydrogen electric vehicles (HEVs). With over 278,000 eco-friendly units sold last year, they are on track to surpass the 1 million mark early this year. New models like the EV9, recently named the 2024 North American Car of the Year in the utility category, and the IONIQ 6, a finalist for Passenger Car of the Year, play a pivotal role in reaching this goal.
The EV9, a midsize SUV slated for production in Georgia, is anticipated to compete with popular models like the Toyota Highlander and Ford Explorer. Hyundai Motor Group’s dedication to expanding its share of the U.S. EV market is evident with the operation of its dedicated EV plant, starting this year.
For Genesis, Hyundai’s luxury arm, the U.S. market has proven increasingly lucrative. On its current growth trajectory, Genesis aims to reach 300,000 cumulative sales in the U.S. by the third quarter of this year. Since becoming a separate brand in 2015, Genesis has sold over 250,000 vehicles, outpacing other luxury brands in the U.S. The launch of the GV80 Coupe and an updated GV80 model this year is expected to further enhance its appeal in the large SUV market.
With a strong sales trajectory and a commitment to eco-friendly and luxury segments, Hyundai Motor Group aims to reinforce its position in the U.S. automotive market. The industry will be closely watching as they strive to achieve their ambitious targets in 2024.