Hyundai, Kia Close In on No. 3 in U.S. Auto Sales

Hyundai Motor Group has achieved a significant milestone in the United States automotive market, surpassing 15 million cumulative RV sales. This accomplishment, reached 32 years after the group's entry into the U.S. market in 1994, is attributed to a lineup that now accounts for over 70% of total sales. Hyundai Motor and Kia combined have sold 15,067,646 RV units in the U.S. market through August 2023, with Hyundai Motor accounting for 7,059,566 units and Kia selling 8,008,080 units.

The group's sales of 1 million units were reached in 2005, 10 million in 2022, and another 5 million in just four years. The primary driver behind this growth has been the diversification of the lineup, with sport utility vehicles (SUVs) leading the charge. The Santa Fe and Tucson models alone have sold over 2 million units each, with the Sorento and Sportage expected to surpass the 2 million mark by the end of the year.

Hyundai Motor Group currently offers 21 RV models in the U.S., with the Tucson being a top seller, and the Santa Fe, Palisade, Sportage, and Telluride each maintaining strong annual demand. The group's strong RV performance is expected to propel it to third place in U.S. sales for the third quarter, behind only General Motors and Toyota.

Industry analysts attribute Hyundai Motor Group's success to a shift towards fuel-efficient hybrid vehicles and the company's diverse powertrain lineup. To further solidify its market position, Hyundai Motor Group plans to introduce hybrid vehicles and extended-range electric vehicles (EREVs), including the GV80 Hybrid and the Santa Fe EREV.

Additionally, the All-New Tucson and Kia's expansion of the Telluride production capacity are part of the strategy to capture a larger share of the RV market.