Hyundai’s domestic sales dip but US sales increase
Kia has turned in another record-breaking year, setting a new sales record for the second year in a row on the back of stronger sales in overseas markets.
The automaker, Hyundai Motor Group’s second largest auto brand behind Hyundai Motor Company, announced Friday that it sold 3,089,457 vehicles worldwide last year, up 0.1 percent from 2023.
Kia sold 540,010 units in South Korea and 2,543,361 units in foreign countries, down 4.2 percent and up 1.0 percent on year, respectively.
The Sportage, Kia’s longtime top-selling sport utility vehicle, once again took the throne as the brand’s most-sold model with 587,717 units delivered across the globe last year. Two other SUVs -- the Seltos and Sorento -- led the pack with 312,246 and 280,705 units sold, respectively.
“As the business environment normalized last year, we expanded production and supply through flexible operations and achieved the highest-ever annual sales by launching competitive new models such as the EV3, K4 and Carnival Hybrid,” said a Kia official.
“This year, we will continue the momentum of growing sales through brand- and customer-focused management as well as active investments, and further solidify our position as a leading brand in electrification.”
Hyundai Motor Company also announced the sales result of last year on the same day, posting 4,141,791 units sold, down 1.8 percent on year.
According to Hyundai, the automaker sold 705,010 and 3,436,781 units in Korea and overseas markets respectively, each down 7.5 percent and 0.5 percent on year.
Despite the overall dip in sales figures, Hyundai said it was able to improve its sales mix centered around high-profit vehicles by strengthening its eco-friendly vehicle lineup and expanding the regions of newly launched vehicles, such as the new Tucson and Casper EV, amid unfavorable business circumstances such as high interest rates and inflation.
“In 2024, we were able to increase sales in major global markets including North America, by quickly responding to the electric vehicle chasm, expanding (hybrid) models and bolstering our eco-friendly vehicle lineup,” said a Hyundai Motor official.
“For 2025, we will enhance our preemptive response capabilities against risks amid the outlook of expanding macro-uncertainties while strengthening local production and sales systems and launching new next-generation hybrid vehicles and EVs to position ourselves as a top-tier brand that global customers can choose with trust.”
