Korea: Hyundai Motor & Kia surpassed 10 pc of US market share in July with new product effect of GV70 and Carnival

Hyundai Motor and Kia, which recorded all-time high profit in the US automobile market in the first half of the year, continued to increase sales last month.

According to the industry on the 4th, Hyundai Motor (including Genesis) sold 73,680 units in the US market in July, up 25 per cent year-on-year. During the same period, sales of Kia increased 33.6 per cent to 70,099 units.

Considering that demand of the US automobile industry was estimated to be around 13 million units last month, the combined share in the US market of Hyundai Motor and Kia is expected to hit 11 per cent.

Hyundai Genesis GV70, which was released in late June, was sold 1,568 units in July.

Sales of volume models such as Elantra (Korean name Avante, 13,103 units sold), Santa Fe (12,766 units sold) and Sonata (10,659 units sold) are also outstanding.

It is estimated that 81 units of US strategic pickup truck Santa Cruz have been shipped. It is expected that Hyundai Motor's sales will increase as Santa Cruz goes on sale from this month.

Kia sold 3,782 units of Carnival, keeping an upward trend since it launched Carnival Gen 4 model. Considering that the average monthly sales of old carnivals, which were sold under the name of Sedona, were less than 1,000 units, it jumped up 3-4 times.

In addition, sales of Forte (K3, 12,423 units sold) Sportage (10,626 units sold), K5 (9,233 units), and Telluride (8,661 units) were strong.

"Kia sold 34 per cent of the inventory in July last year, but it sold more than 74 per cent in July this year," said Son Yoon, President of Kia North American branch.

However, from next month, the two companies are expected to have the aftermath of production delays in the US due to the shortage of automobile semiconductors in June. (ANI/Global Economic)

( With inputs from ANI )

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