Hyundai Hits Double-Digit EV Market Share In the US

Hyundai Motor Group, which includes Kia and Genesis, accounted for 10% of the U.S. EV market through the first seven months of 2024, outpacing Ford (7.4%) and GM (6.3%). Electrek reports: Although IONIQ 5 and 6 sales slipped last month, they are still up 25% and 54% year-to-date, respectively. Meanwhile, sister company Kia continued its record-setting performance in July after EV sales nearly doubled YTD. Kia's new EV9, its first three-row electric SUV, is a major part of its growth. According to Kelley Blue Book, Kia EV9 sales outpaced the Toyota bZ4X, VW ID.4, Nissan Ariya, Rivian R1T, and Tesla Model S in the US through the first half of 2024. It even topped Kia's Niro EV sales. Hyundai's luxury brand, Genesis, remains a dark horse in the US EV market. Genesis is quickly expanding in the US. After adding 21 dedicated retailers in the US this year, including in eight new states, Genesis recently announced it now has 56 standalone facilities. "In two short years, Genesis' retail footprint has grown rapidly from one dedicated retail facility in Louisiana to 56 retail facilities nationwide," Genesis North America COO Claudia Marquez said.

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