SEOUL, October 02 (AJP) - Hyundai Motor Group reported its best-ever third-quarter sales in the U.S. market, Thursday, signaling resilience despite trade tensions and the looming expiration of key electric vehicle tax credits.
The surge was largely attributed to burgeoning demand for its environmentally friendly vehicles.
The combined U.S. sales for Hyundai and its affiliate Kia reached 480,175 units in the third quarter, a substantial 12 percent increase compared to the same period last year. This performance outpaced most major rivals in the U.S., with only Toyota reporting a higher year-over-year sales increase.
The engine of the sales growth was the group's accelerated push into the electric vehicle segment. In the quarter, sales of eco-friendly models — including both electric vehicles and hybrids — soared by 54.5 percent to 135,547 units.
Sales of battery-electric vehicles alone climbed 54.4 percent to 45,488 units for the quarter, while hybrid sales also saw a robust gain of 54.6 percent.
The momentum was particularly visible in September, where electric vehicle sales nearly doubled year-over-year, driven by models like the Hyundai Ioniq 5 and the Kia EV6.
For the month of September, the group’s total sales reached 136,510 units, a 12.8 percent increase from a year earlier.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
Copyright ⓒ Aju Press All rights reserved.
