Hyundai, Kia's US market share stays above 10% in H1: data

The combined US market share of Hyundai Motor Co. and its smaller affiliate Kia Corp. inched up in the first half of the year from a year earlier, managing to stay above the 10 percent range amid the recovery in demand and output, data showed Sunday.

Their combined share came to 10.6 percent in the January-June period, up 0.3 percentage point from the previous year, according to the data by the US-based Automotive News outlet.

Hyundai and Kia saw their combined market share rise to double digits for the first time last year and maintained the level in the first six months of 2023.

Hyundai accounted for 5.5 percent, including its premium brand Genesis, while Kia took up 5.1 percent.

General Motors Co. came in first with 16.7 percent, followed by Toyota Motor Corp. with 13.5 percent and Ford Motor Co. with 13 percent.

Hyundai and Kia together placed fourth on the list, edging out Stellantis NV that recorded 10.5 percent.

Hyundai and Kia sold a combined 820,180 vehicles in the United States in the first half of the year, up 16.7 percent from the 702,875 tallied during the same period last year.

Hyundai's Tuscan compact SUV was among the most popular models, recording sales of 100,591 units in the first half.

Sales of electric vehicles by the two South Korean automakers increased 11.4 percent on-year to 38,057 in the six-month period, despite the Inflation Reduction Act that gives up to US$7,500 in tax credits to buyers of EVs only assembled in North America.

Early this year, Hyundai Motor began to produce the all-electric GV70 SUVs under its independent Genesis brand at its Alabama plant.

Hyundai Motor Group is building an EV and EV battery plant in Georgia with an aim to start production in the first half of 2025. (Yomhap)