Hyundai, Kia post record August US sales, driven by hybrids, EVs

South Korea’s Hyundai Motor Co. and its sister firm Kia Corp. saw their US vehicle sales in August rise to all-time highs, driven by eco-friendly cars, including electric vehicles, hybrids and plug-in hybrids.

The two automaking units of Hyundai Motor Group said on Thursday their combined US sales, including those of the premium Genesis brand, reached 161,881 units last month, up 12.7% from a year earlier.

The latest figure represents the automotive group’s record US sales for August and the second-highest sales for any month after the highest-ever 174,043 vehicle sales in May 2021.

The Korean duo posted its first double-digit percentage growth since an 18.4% rise in August 2023.

While Hyundai Motor saw its US sales rise 21.2% on-year to 86,664 units in August, Kia’s US sales rose 4.3% to 75,217 units – both posting record sales figures for the month.

In July, Kia posted an on-year sales decline due in part to a higher comparison base in the year-earlier period.

Genesis sold a record 7,386 units in August, up 14.5% from a year ago.

“This is a record-setting August for Hyundai in total and retail sales,” said Randy Parker, chief executive of Hyundai Motor America. “Our entire line-up performed very well. Our retail hybrid product mix led the pack with an on-year increase of 81%. Kudos to our retail partners who were moving inventory at a record pace.”

ECO-FRIENDLY CARS LEAD THE PACK

Hyundai Motor and Kia said their strong US performance was led by rising demand for eco-friendly vehicles.

The two companies sold 32,938 eco-friendly vehicles in the US last month – the second-highest monthly sales after 34,288 units in May.

Of the duo’s total eco-friendly vehicle sales in August, hybrid cars accounted for 65%, or a record 21,305 units, up 28.3% from a year earlier.

Sales of pure electric vehicles slowed. Nevertheless, pure EVs posted their second-highest monthly sales with 11,625 units after a record 14,317 vehicle sales in May.

EVs and hybrids accounted for a quarter of Hyundai Motor’s total August sales.

“Kia’s dealer sales were higher than any month in company history by effectively managing inventory shortages as well as executing proactive marketing and sales activities,” said Eric Watson, vice president of Kia America’s sales operations.

HYBRIDS IN GREATER DEMAND

The Hyundai Tucson HEV, or hybrid electric vehicle, sold 6,324 units in August, up 82.6% from a year earlier.

Sales of the Santa Fe HEV rose 70.2% on-year to 3,290 units.

The IONIQ 5 crossover saw its sales rise 35.4% to 4,838 units.

Four Kia models – the Seltos, Sportage, Telluride and Forte – set their best-ever August sales, contributing to the brand’s record-breaking sales performance.

Kia’s top three best-selling models were the Sportage (15,114 units), K3 (12,772 units) and Telluride (10,273 units).

Kia’s EV sales rose 27% in August from a year earlier, helped by its large electric SUV EV9 selling 2,388 units.

Sales of its plug-in hybrid models or PHEVs rose 43% from the year-earlier month.

“Our outlook for the remainder of the year is optimistic with increased availability of the refreshed K5 and the introduction of both the Carnival hybrid and the all-new K4 sedan,” said Kia’s Watson.

Write to Jae-Fu Kim at hu@hankyung.com

In-Soo Nam edited this article.