South Korean automaker Hyundai Motor Group (HMG), including Hyundai Motor and Kia Corporation, reported record vehicle sales in the US in January, despite the introduction of import tariffs last year by the US government.
HMG reported a 7.7% year-on-year increase in vehicle deliveries to 125,296 vehicles in the US last month, driven by strong demand for SUVs, particularly hybrid models. Combined sales of hybrids surged by 66% to 27,489 units, while battery electric vehicle (BEV) sales plunged by 34% to 4,471 units, following the withdrawal last September of tax incentives introduced under the US Inflation Reduction Act (IRA) by the previous Biden-led administration.
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Kia outsold Hyundai in the US last month, with sales rising by 13% to 64,502 units. Its best-selling model was the Sportage SUV with sales rising by 23% to 13,984 units, followed by the K4/Forte sedan with 11,642 units. Sales of the Carnival MPV surged by 60% to 5,879 units, while deliveries of the Seltos compact SUV jumped by 86% to 5,278 units.
Hyundai Motor, including its upmarket Genesis brand, reported a 2.4% sales rise to 60,794 units last month, underpinned by a 29% rise in sales of its Palisade SUV to 8,604 units and a 22% rise in Kona compact SUV sales to 5,321 units. Its best-selling model was the Tucson SUV with 14,428 deliveries (-4%), followed by the Elantra sedan with 9,091 units (-3%) and the Santa Fe SUV with 9,011 units (+9%).
