Hyundai Motor Group Achieves Unprecedented Sales Figures in the U.S. for 2024

Seoul, Jan 5 (NationPress) South Korea's Hyundai Motor Group reported on Sunday that it has achieved unprecedented sales figures in the United States for 2024, fueled by the strong demand for SUVs, minivans, and eco-friendly vehicles.

Hyundai Motor Co. and its affiliate Kia Corp collectively sold 1.7 million vehicles in the U.S. market last year, marking a 3.4 percent increase compared to the previous year, according to the group.

This total surpassed the earlier record of 1.65 million units set in 2023, as reported by the Yonhap news agency.

Hyundai Motor experienced a 4.8 percent rise in sales, totaling 911,805 units, while Kia saw a 1.8 percent increase with 796,488 units sold, the data revealed.

Sales of the Genesis premium line from Hyundai surged by 8.4 percent year-on-year, reaching 75,003 units, the group added.

The Palisade SUV witnessed a 23 percent increase in sales, totaling 110,055 units in 2024, while the Ioniq 5 electric model's sales skyrocketed by 31 percent to 44,400 units in the U.S. market.

"Despite global uncertainties and regulations such as the U.S. Inflation Reduction Act, we achieved robust performance due to the popularity of SUVs, minivans, and eco-friendly models," stated a company official.

Moreover, Hyundai Motor Group maintained its position as the fourth-largest player in the U.S. automobile market for the second consecutive year in 2024.

General Motors led the market with 2.68 million units sold, followed by Japan's Toyota with 2.33 million units and Ford in third place with 2.06 million units.

In contrast, Hyundai Motor's annual sales decreased by 1.8 percent year-on-year in 2024, primarily due to a drop in domestic demand. Hyundai Motor sold 4,141,791 units last year, down from 4,216,898 units the previous year, as stated in a press release.

Domestic sales fell by 7.5 percent to 705,010 units, while overseas sales saw a slight decline of 0.5 percent, totaling 3,436,781 units.