Hyundai Motor Company and Kia's sales in the U.S. market for the first half of this year reached an all-time high. However, considering only the month of June, the sales growth rate fell to around 0% compared to the same period last year.
Hyundai Motor Company and Kia announced on the 2nd that they sold a total of 893,152 vehicles in the U.S. market from January to June this year, including the luxury brand Genesis. This is an increase of 9.2% compared to the same period last year and marks the highest level for a first half ever. Hyundai Motor Company sold 476,641 units, a 10.5% increase, while Kia sold 416,511 units, showing a growth rate of 7.8%. Genesis saw a surge of 17.4%, with sales reaching 37,361 units.
The combined results of Hyundai Motor Company and Kia are commendable compared to other automobile corporations operating in the U.S. market. Companies such as Honda (7.1%), Ford (6.8%), and Toyota (4.2%), as well as Tesla (-13%), did not reach the performance of Hyundai Motor Company and Kia. Among major corporations, General Motors (GM) recorded an 11.8% growth rate in the first half of this year, which was higher than that of Hyundai Motor Company and Kia.
By vehicle type, eco-friendly cars sold 180,715 units, marking the highest level for a first half record. This is an increase of 16.1% compared to the same period last year. Hybrid cars showed strong growth, selling 136,180 units, which is a 45.3% increase, driving overall growth. Electric vehicles, on the other hand, sold only 44,533 units, a 28% decrease.
Overall, the first half shows good performance, but when broken down by month, the atmosphere is completely opposite. The combined sales of Hyundai Motor Company and Kia in June was 140,374 units, only a 0.9% increase compared to the same period last year. Hyundai Motor Group showed double-digit growth rates in the U.S. market until April (16.3%) excluding February (5.5%), but the growth rate slowed down to 6.7% in May, and by June it was just shy of a negative threshold.
Hyundai Motor Company maintained a growth streak for nine consecutive months with sales increasing by 4.5% to 76,525 units. This figure includes 6,823 units sold by Genesis, which recorded a 21.4% increase. However, Kia saw a decline, selling 63,849 units, which is a 3.2% reduction, marking a shift to a decrease for the first time in nine months.
The stagnation of Hyundai Motor Company and Kia is tied to a contraction in eco-friendly cars. Last month, the combined sales of eco-friendly cars for both companies were 28,635 units, a 4.3% decrease. Eco-friendly cars account for 20.4% of Hyundai Motor Company and Kia's total sales. While hybrid cars increased by 15.8% to 21,443 units, electric vehicles plummeted by 36.9% to 7,191 units.
Hyundai Motor Company's sales of the Tucson (16,378 units) increased by 20.6% compared to the same period last year, driving overall sales. Kia's new car K4 sold 11,564 units, maintaining over 10,000 units for six consecutive months, while the K5 (5,613 units) and Carnival (5,198 units) saw increases of 48.8% and 36.6%, respectively.