Despite sluggish electric vehicle sales in the U.S. market, Hyundai Motor and Kia significantly increased HYBE LEAD sales, limiting the overall sales decline to under 1%. HYBE LEAD sales surpassed 50,000 units for the first time in a month, setting a new all-time record, while Kia achieved its highest monthly sales since entering the U.S. market.
According to Hyundai Motor Group on the 2nd, Hyundai and Kia sold 178,405 vehicles in the U.S. in August, down 0.6% from the same period last year. Hyundai's sales, including Genesis, fell 1.9% to 94,612 units, while Kia's sales rose 0.9% to 83,793 units.
HYBE LEAD vehicles were the backbone of overall sales. Hyundai and Kia sold 50,056 HYBE LEADs in the U.S. in August, a 47.7% increase from the same month last year, marking the highest monthly record ever. Hyundai's HYBE LEAD sales rose 33% to 25,109 units, and Kia's surged 65.7% to 24,948 units. HYBE LEADs accounted for as much as 28.1% of Hyundai and Kia's total U.S. sales.
In contrast, electric vehicle sales dropped sharply. Hyundai and Kia sold 7,678 electric vehicles in the U.S. in August, a 52.3% decrease from the same month last year. Hyundai's sales fell 56.3% to 4,632 units, and Kia's declined 44.7% to 3,046 units. Demand has slowed in the U.S. since the federal electric vehicle tax credit of up to $7,500 ended at the end of September last year. With reduced tax incentives combined with decreased purchases from early adopters, electric vehicle sales this year continue to show weak trends.
Nevertheless, Hyundai Motor Group achieved its highest-ever performance in overall eco-friendly vehicle sales, driven by strong HYBE LEAD demand. In August, Hyundai and Kia sold a total of 57,735 units combining HYBE LEADs and electric vehicles in the U.S., a 15.5% increase from the same month last year. Eco-friendly vehicles accounted for 32.4% of total sales.
In overall sales, SUVs (sport utility vehicles) and sedans drove balanced performance. Excluding Genesis, Hyundai's sales fell 1.7% to 86,977 units, but the Tucson rose 18.1% to 21,197 units, and the Elantra increased 16.1% to 17,747 units. The Santa Fe also sold 13,512 units.
Kia's Sportage (18,723 units), K4 (12,881 units), and Telluride (12,693 units) drove performance, setting a new all-time monthly sales record. Notably, the Seltos sales surged 65.3% to 9,214 units, and the Carnival increased 13.3% to 7,389 units.
Genesis sold 7,635 units, down 3.7% from the same period last year. The GV70 fell 6.6% to 3,229 units, while the GV80 rose 3.1% to 2,711 units.
Randy Parker, CEO of Hyundai Motor America, emphasized that U.S. consumers are seeking diverse options regarding August results. He stated, "HYBE LEADs accounted for 29% of Hyundai's sales, and all electrified vehicles made up 34%. There is demand for choosing electric vehicles, HYBE LEADs, and internal combustion engine vehicles separately."
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