This file photo, provided by Hyundai Motor Group, shows Hyundai Motor Co.’s and Kia Corp.’s headquarters buildings in Yangjae, southern Seoul.
SEOUL, April 4 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Tuesday their combined sales in the United States rose 18 percent in the first quarter from a year earlier on robust sales of SUVs and eco-friendly models.
Hyundai and Kia sold 382,354 vehicles in the world’s most important automobile market in the January-March period, up from 322,593 units the previous year, according to the companies’ sales data.
Hyundai and its independent Genesis brand’s U.S. sales climbed 16 percent on-year to 198,218 units in the first quarter and Kia’s jumped 22 percent to 184,136, the data showed.
The strong sales were buoyed by robust demand for Kia’s Sportage and Telluride SUVs, and Hyundai’s Santa Fe and Tucson SUVs, the companies said.
“Kia’s record first quarter is a direct result of our consistent efforts to build our brand, improve residual values, and deliver world-class models with cutting-edge design and innovative technology,” Eric Watson, vice president in charge of sales operations at Kia America, said in a statement.
Kia’s transformation will continue to accelerate as production availability of important SUVs and in-demand electrified vehicles improves throughout the year, he said.
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)
