This file photo taken Oct. 24, 2022, shows Hyundai Motor Co.’s and affiliate Kia Corp.’s headquarters in Yangjae, southern Seoul. (Yonhap)
SEOUL, March 2 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Thursday their combined sales in the United States rose 16 percent in February from a year earlier on robust sales of SUVs and eco-friendly models.
Hyundai and Kia sold 122,111 vehicles in the world’s most important automobile market last month, up from 105,088 units the previous year, according to the companies’ sales data.
Hyundai’s U.S. sales climbed 9.6 percent on-year to 61,252 units and Kia’s jumped 24 percent to 60,859, the data showed. Hyundai’s figures included the sales results of the group’s independent brand, Genesis.
The strong sales were buoyed by firm demand for Kia’s Carnival minivan, Sportage and Telluride SUVs, and Hyundai’s Santa Fe, Tucson and Kona SUVs, the companies said.
“As our production and inventory levels continue to increase, we are able to fully capitalize on the demand we have built across our full range of capable SUVs, sporty sedans and innovative electrified models,” Eric Watson, vice president in charge of sales operations at Kia America, said in a statement.
In the first two months of the year, Hyundai’s sales rose 9 percent on-year to 117,158 autos and Kia’s jumped 23 percent to 112,842 during the same period.
But the Inflation Reduction Act (IRA) remains a major concern for the carmakers’ sales in the U.S. this year.
The IRA excludes electric vehicles built outside North America from tax credits. The new law is widely expected to deal a blow to Hyundai and Kia, as they produce their EVs at domestic plants for export to the U.S.
(Yonhap)
