EV Sales Grow at the Fastest Pace
Hyundai Motor Co. and Kia Corp, are enjoying an uptrend in eco-friendly vehicle sales in the U.S. market.
According to Hyundai Motor Group Hyundai Motor and Kia sold a total of 15,109 eco-friendly cars in the United States last month. This was an increase of 33.2 percent compared to the same period of last year. During this period, Kia’s sales swelled by 86 percent to 6,461 units. Hyundai Motor sold 8,648 units, up 9.9 percent from the same period of 2021.
Although hybrid models sold more than 10,000 units and still accounted for more than 60 percent of the two companies' total eco-friendly vehicle sales, it was electric vehicles (EVs) that posted the sharpest sales growth. The two automakers’ EV sales hit 4,966 units in July alone, an increase of 139.8 percent compared to the same period of last year. This year, Hyundai Motor Group’s EV sales have maintained triple-digit growth every month compared to 2021.
Their vehicle sales in America totaled 128,283 units in July, down 10.8 percent from the same month of the previous year. However, considering that global automakers’ sales in the United States shrank by an average of 25 percent, Hyundai Motor Group fared relatively well, analysts say. Major carmakers all suffered drops in their sales -- Toyota (-21.2 percent), Honda (-47.4 percent), Subaru (-17.1 percent) and Mazda (-28.5 percent).
Hyundai Motor sold 65,834 units in July, down 10.6 percent from the same period of last year, while Kia’s sales hit 62,449 units. The popularity of the premium brand Genesis continued. The Genesis racked up 5,203 units in sales in July, the highest monthly figure this year.