Hyundai and Kia Set to Surpass 100,000 EV Sales inthe US for the First Time
Seoul, October 13, 2024 – Hyundai Motor and Kia Corporation are poised to achieve a significant milestone in the US electric vehicle (EV) market, with combined sales expected to exceed 100,000 units for the first time this year.
According to data released by the companies on Wednesday, Hyundai and Kia sold a combined 91,348 EVs in the US from January to September, representing a 30.3% year-on-year increase. This strong performance puts them on track to surpass the 100,000 markby the end of the year.
Kia’s EV9 Drives Sales Growth
Hyundai’s EV sales reached 48,297 units during the first nine months, reflecting a modest 4.5% increase compared tothe same period last year. However, Kia’s sales surged by a remarkable 80.3%, reaching 43,051 units. This growth is attributed to the successful launch of the EV9, a large electric SUV that has resonated with American consumers.
Sustained Momentum and Future Prospects
Both Hyundai and Kia have consistently sold over 10,000 EVs per month in the first nine months of 2024. Given this momentum, the companies are confident of achieving their sales target within the next month.
Analysts suggest that Kia’s strong performance has offset a slight decline inHyundai’s EV sales. The combined sales figures demonstrate the growing popularity of Hyundai and Kia EVs in the US market.
A Look Back at EV Sales
Hyundai and Kia’s EV sales have witnessed a dramatic upward trajectory in recent years. From 2014 to 2018, their combined annual sales hovered between 1,000 and 2,000 units. However, in 2021, sales surpassed 10,000 units, marking a significant turning point.
The companies’ commitment to expanding their EV lineups and investing in advancedtechnologies has positioned them as key players in the rapidly evolving US EV market.
References:
- Yonhap News Agency. (2024, October 13). Hyundai and Kia to surpass 100,000 EV sales in US this year. Retrieved from [link to originalarticle]
Views: 0