Genesis’ US sales are growing rapidly. It is analyzed that new cars such as the new G80 and GV80 led the sales. At the Chicago Motor Show held in February last year, visitors are looking at the GV80. Photo = EPA
Hyundai Motor Company and Kia have been running fast in the US since the beginning of this year. It surpassed its major rival, Japanese automakers, and recorded an 8% increase in sales in January. Hyundai’s luxury car brand Genesis has doubled its sales from a year ago. The blue light also lit up at Hyundai Motor and Kia’s sales target of 1.36 million units in the US this year.
Hyundai Motor Company’s US Sales Subsidiary (HMA) announced on its website on the 2nd (local time) that it sold 46,208 vehicles in the United States last month. This is a 4.7% increase from a year ago. Kia’s US subsidiary (KMA) recorded double-digit growth. Last month, Kia’s U.S. sales amounted to 4,4965 units, up 11.4% from the same period last year. It is an all-time high in January sales.
Hyundai Motor and Kia also beat rival Japanese automakers in terms of overall growth rate. The sales volume of Hyundai Motor Company and Kia was 91173 units, an increase of 7.9% compared to the same period last year. In contrast to the 9.2% decline in Honda over the same period. Toyota (0.2%), Subaru (0.2%) and Mazda (6.9%) also fell far short of the growth rate of Hyundai and Kia.
Genesis also advanced. Last month, Genesis sales were 2814 units, up 101.1% from January last year (1399 units). Randy Parker, vice president of sales at HMA, said, “We started this year with strong sales last month. We will continue to expand our sales volume and market share this year.”
Genesis’ US sales are growing rapidly. It is analyzed that new cars such as the new G80 and GV80 led the sales. At the Chicago Motor Show held in February last year, visitors are looking at the GV80. Hankyung DB “/>
Genesis’ US sales are growing rapidly. It is analyzed that new cars such as the new G80 and GV80 led the sales. Visitors are looking at the GV80 at the Chicago Motor Show held in February last year. Hankyung DB
Luxury car’presence’… Genesis doubles in US sales in a year
GV80·G80 new car successive’Golden’… Durability Quality Survey Beyond Lexus
‘101.1%’. This is the year-on-year growth rate of Hyundai Motor’s luxury car brand Genesis recorded in the US last month. The sales volume has more than doubled in one year, with a lineup of new cars such as the GV80. In the industry, it is evaluated that “this year, Hyundai Motor Company and Kia will achieve’quantitative growth’ not only with sports utility vehicles (SUVs) overseas, but also’qualitative growth’ through luxury car strategies.”
○ Genesis, challenges’North American composure’ beyond Korea
According to Hyundai Motor Company on the 3rd, Genesis sold 2814 units in the United States last month. It doubled from a year ago (1399 units). Genesis’ rapid growth is due to the’GV80′, which was released at the end of last year. GV80, which started sales in earnest in November last year, sold 1512 units last month. It took up more than half of Genesis’ total sales and led the growth.
As sales volume surge, there is also an expectation that Hyundai Motor will establish its position in the US luxury car market this year. The price of the GV80 sold locally is between $54,650 and $65,050. If you add options to this, it can reach up to $71,350 (about 80 million won). It is explained that it is because of its quality that it is popular even at such a high price point. Genesis has been ranked No. 1 in premium brands for 4 consecutive years since 2017 in the New Vehicle Quality Survey (IQS) of JD Power, the most prestigious quality research agency in the United States. Last year, it was ranked No. 1 in the Durability Quality Survey (VDS), overtaking Lexus, which is called’the synonym for quality’.
Korea has already been calm. Genesis sold more than 100,000 units in the domestic market last year. It has doubled in five years. Genesis’ large luxury sedan’G80′ also surpassed 50,000 units, making it the top 10 sales volume.
Genesis G80. Photo = News 1
A Hyundai Motor Company official said, “The image of a’high-end car brand’ is being formed as the proportion of households with an annual income of over $100,000 among US customers is gradually increasing.”
○ Achieved 1.36 million units this year with SUVs ahead
Hyundai Motor Company and Kia also succeeded in’quantitative growth’ thanks to strong SUV sales. A total of 59,950 SUVs were sold by the two companies last month. Six out of ten vehicles sold in the United States are SUVs. By company, Hyundai Motors sold 3,478 SUVs, up 17.9% from the same period last year. Kia also sold 29472 units, an increase of 21.2% from a year ago. The’best-selling’ SUV was won by Hyundai Motor Company’Santa Fe’, which sold 8714 units. Tucson (7980 units), Kia Telluride (6626 units) and Sportage (5913 units) followed.
According to the analysis, it is because of the’power of SUV’ that Hyundai Motor and Kia recorded higher growth rates than their major rivals, Japanese automakers. The two companies became popular with the launch of the large SUV Palisade and Telluride in 2019. Hyundai Motor Venue, a small SUV, is also receiving favorable reviews among young consumers. Hyundai Motor and Kia’s U.S. SUV lineup increased from six in 2015 to 12 in five years. The proportion of SUVs in total sales is also increasing. Among Hyundai Motors and Kia products (including Genesis) sold last year, the proportion of SUVs exceeded 60%.
Hyundai Motor Company and Kia aim to sell 1.36 million units in the United States this year, with SUVs ahead. This is an increase of about 11% from the previous year. Already last year, new SUVs succeeded one after another, recording a market share of 8.6% from January to November. It is the highest since 2012.
An official of the Hyundai Motor Group said, “We plan to release new car models this year,” and said, “I am confident that the strong sales like last month will continue in the first quarter and beyond.”
Reporter Sunah Lee [email protected]