The Kia K4, winner of the 2024 Good Design Award. A total of 19 products from Hyundai Motor and Kia were recognized in various categories, including Transportation and Robotics, at the U.S. 2024 Good Design Awards. (Image courtesy of Kia Corporation)
SEOUL, Jan. 19 (Korea Bizwire) — Kia Motors achieved its highest-ever electric vehicle (EV) sales in 2024, fueled by robust demand in North America and the success of its large EV models, including the EV9.
The company’s global EV sales from January to November reached 184,852 units, a 10.9% increase from the same period in 2023. This figure already surpasses the total sales for all of 2023, even without December data.
The ‘Gwangmyeong EVO Plant’ operated by Kia Motors (Image courtesy of Kia Corp)
North American Market Leads Growth
Kia’s EV sales in the U.S. surged 79.5% year-over-year to 51,369 units, bolstered by the popularity of the EV9, a large electric SUV launched in November 2023. The EV9 accounted for 19,942 units, complemented by strong sales of the EV6 (19,604 units) and the Niro EV (11,699 units).
In Canada, sales nearly doubled to 14,532 units, with the EV6 leading the way at 6,254 units.
Kia EV 6
Expanding Presence in China and Beyond
Kia also saw significant growth in China, where EV sales rose nearly 26-fold, reaching 5,526 units. The EV5, a compact electric SUV tailored for the Chinese market, dominated with 5,400 units sold, accounting for 98% of Kia’s EV sales in the region.
Looking ahead, Kia plans to introduce the EV3 in Europe, targeting annual sales of 60,000 units at a price of €36,000. Domestically, the company will expand its lineup with the sedan-style EV4 and the EV5 SUV.
Only 21 EV9s were produced at the Georgia plant through the third quarter of 2024. (Image courtesy of Kia America)
Challenges in the U.S. Market
Despite the potential reduction or elimination of EV tax credits under President Donald Trump’s administration, the U.S. EV market continued to grow. According to S&P Global Mobility, EV registrations in the U.S. rose 21% year-over-year in November 2024, with EVs accounting for 8.3% of all passenger car sales, up from 7.4% the previous year.
Hyundai Motor Group, including Kia, ranked second in U.S. EV sales that month, with 10,167 units, trailing Tesla’s 46,225.
Market analysts remain divided on the future of EV sales under Trump’s policies. While some suggest consumers are accelerating purchases ahead of potential subsidy cuts, others believe automakers will offset reduced incentives through pricing strategies to sustain growth.
Future Prospects
Kia’s record-breaking 2024 performance underscores the company’s ability to capitalize on growing global EV demand. With strategic product launches and strong international sales, Kia is well-positioned to further expand its footprint in the increasingly competitive EV market.
Kevin Lee (kevinlee@koreabizwire.com)
