Hyundai Motor Group poised to rank fourth with record sales in U.S.

[Photo by Lee Chung-woo]

South Korea’s Hyundai Motor Group marked a double-digit growth rate last year, setting the all-time highest sales record in the United States. Based on sales volume, Hyundai Motor Group is poised to enter the top 4 in the U.S. market, following GM, Toyota, and Ford.

On Thursday, Hyundai Motor Group announced that Hyundai, Genesis, and Kia collectively sold 1,652,821 units in the U.S. in 2023, up 12.1 percent compared to the previous year.

This figure surpassed the previous all-time highest sales record of 1,489,118 units in 2021 by over 160,000 units, marking the first time Hyundai Motor Group’s annual sales in the U.S. crossed the 1.6 million mark.

In detail, Hyundai sold 801,195 units in the U.S. market last year, up 11 percent from 2022, while Kia recorded a 12.8 percent increase with 782,451 units sold. Hyundai’s luxury brand, Genesis, saw a 22.6 percent jump with 69,175 units sold compared to the previous year.

The robust sales performance of recreational vehicles (RVs) and eco-friendly cars drove Hyundai Motor Group’s sales in the market. Hyundai Tucson, selling 209,624 units in the U.S. last year, surpassed the 200,000 mark for the first time in history.

During the same period, Kia Sportage sold 140,780 units, and Kia Telluride, a locally-targeted model, broke the 100,000 mark with 110,765 units sold. Additionally, Elantra (known as Avante in Korea, 134,149 units) and Santa Fe (131,574 units) both surpassed sales of over 130,000 units. Electric vehicle Hyundai Ioniq 5 also recorded its highest-ever annual sales of 33,918 units.

Hyundai Motor Group is projected to be in the fourth position in U.S. automotive market sales as of last year. Automotive News reported that it is likely that Hyundai Motor Group will rise to fourth place after GM, Toyota, and Ford.

Based on available sales data, GM claimed the top spot with an annual sale of 2,577,662 units, followed by Toyota with 2,248,477 units. Although Ford’s sales figures have not been disclosed yet, considering its past sales trends, it appears to have surpassed Hyundai Motor Group.

Following Hyundai Motor Group, the fifth spot is highly probable for Stellantis. Official performance figures for Stellantis, the parent company of brands like Chrysler, Fiat, Jeep, and Peugeot, have not been released yet, but it is known to have sold over 1.5 million units last year.