Hyundai Motor Group achieved record-breaking performance in the U.S. market last year, driven by the rise of eco-friendly vehicles and diversified model offerings. The group maintained its position as a Top 4 automaker for the second consecutive year, following GM, Toyota, and Ford. On January 5, Hyundai Motor Group announced that Hyundai, Genesis, and Kia sold a combined total of 1,708,293 units in the U.S. in 2024, a 3.4% increase from the previous year. This figure surpasses the previous record of 1,652,821 units set in 2023 by over 50,000 units, marking the first time the group's annual U.S. sales exceeded 1.7 million vehicles.

Hyundai Motor America (HMA) reported total annual sales of 836,802 units in 2024, up 4% from 801,195 units in 2023. This also set a new record, surpassing the 800,000-unit milestone achieved for the first time in 2023.

Notably, the Tucson Hybrid (HEV), Ioniq 5, and Santa Fe HEV set new annual sales records. Retail sales grew by 4% compared to the previous year, marking the fourth consecutive year of record-breaking retail performance.

In December alone, Hyundai sold 78,498 units, a 4% increase over December 2023 (75,164 units), setting a new record for the month. Model-wise, the Ioniq 5 saw a 41% year-over-year increase in December sales, while the Tucson HEV rose by 133%, the Santa Fe HEV by 87%, the Elantra by 35%, and the Santa Fe by 9%, all contributing to the growth. Fourth-quarter sales totaled 226,308 units, a 10% increase from the same period in 2023, with retail EV sales rising by 64%.

Randy Parker, CEO of HMA, remarked, "2024 was a remarkable year of record-breaking achievements, driven by our success in offering a diverse range of products and powertrain options tailored to consumer needs. We are confident this momentum will continue in 2025, with the launch of models like the Ioniq 9 and increased production at our Georgia manufacturing plant."

Kia America reported record annual sales of 796,488 units in 2024, up 1.79% from 782,451 units in 2023. Six models achieved record sales, including the EV9 (up 1,869%), Sportage (up 15%), Carnival (up 14%), Forte (K4, up 13%), EV6 (up 6%), and Telluride (up 4%). EV sales led the growth, increasing by 74% year-over-year, while SUVs accounted for 76% of total annual sales.

Kia's December sales reached 73,303 units, a 21.61% increase from the same month in 2023 (60,275 units). Seungkyu Yoon, head of Kia North America and Kia America, stated, "Breaking annual sales records for two consecutive years and setting a seven-year streak in consumer sales demonstrates Kia's rising brand stature and growth potential in the U.S. market. We aim to sustain this growth momentum in 2025 with world-class products and a diverse customer-focused lineup."

Genesis Motor America (GMA), Hyundai’s luxury brand, recorded an 8% increase in annual sales, reaching 75,003 units in 2024 compared to 69,175 units in 2023—the highest growth among the three brands. December sales stood at 8,159 units, up 20% from 6,803 units in December 2023.

Despite challenges such as high interest rates, new car sales in the U.S. rebounded last year. According to Reuters and automotive industry reports, an estimated 15.9 million new vehicles were sold in the U.S. in 2024, a 2.2% increase from the previous year.

Market research firm Cox Automotive predicts U.S. new car sales will reach 16 million in 2025. Jessica Caldwell, Director of Insights at Edmunds, noted, "The market has become slightly more favorable for car buyers compared to the start of last year." Caldwell explained that lower auto loan rates, increased vehicle inventory, and aggressive incentive and discount programs from automakers are expected to drive sales growth in 2025.



<Hongyong Park>