South Korea's two biggest carmakers both had their best October ever in the United States. A closer look at the numbers shows that the growth is coming mainly from petrol-electric hybrids, not fully electric cars.
Hyundai Motor America sold 73,452 vehicles in October, up 5 percent from 70,118 units a year earlier. Kia America did even better, with sales of 80,008 units, up 16 percent. Together, the two brands sold 153,460 vehicles in the US last month. Both companies said demand for their hybrid and electric models drove the results.
At Hyundai, the main driver is clear. Hybrid sales rose 20 percent year-on-year and made up 29 percent of the company's October volume, close to one in every three vehicles it sold. The longer-term numbers are even stronger. From January to October, Hyundai's hybrid sales grew 50 percent compared with the same period last year, according to Yonhap news agency.
This explains why Hyundai's SUVs led the month. The Santa Fe had the biggest gain, with sales up 52 percent to 17,959 units. The larger Palisade rose 14 percent to 10,840 units, and the Kona subcompact SUV grew 21 percent to 6,029 units. Hyundai's sedan also did well, with the Elantra up 17 percent to 12,011 units.
Hyundai's main EV, the Ioniq 5, grew 21 percent to 1,981 units. That is solid growth, but it is still a small share of total volume. For buyers who are not ready to go fully electric, hybrids are proving the easier choice.
"We had our best October ever, and customers responded across our lineup," said Randy Parker, president and CEO of Hyundai Motor North America.
Over the first ten months of the year, Hyundai's total US sales rose 3 percent to 770,916 vehicles, compared with 748,467 units in the same period last year.
Kia's faster pace
Kia grew three times as fast as Hyundai in October, and its electric models posted some of the biggest gains. Sales of the EV9, Kia's three-row electric SUV, more than doubled, up 111 percent to 1,406 units. The EV6 rose 58 percent to 803 units. The Telluride, Kia's popular family SUV, grew 63 percent to 14,009 units.
Why it matters
The results show how US car buyers are behaving right now. Many want better fuel economy and lower running costs, but they are still careful about switching fully to electric. By offering hybrids in popular SUV models such as the Santa Fe, Hyundai and Kia are meeting that middle-ground demand while their EV sales keep growing.
For the Korean group, beating its own records in a market as competitive as the US also shows that its range of SUVs, hybrids and EVs is working. The real test will come in the year-end months, when it will be clear whether this October pace can carry Hyundai and Kia to record full-year sales.
(With inputs from IANS)
