As to the Korea Automobile Manufacturers Association’s data, out of the 437,246 EVs sold in the US market between January and May, the two automakers were responsible for 11.2 per cent, or 48,838, of the total cars sold.
Hyundai and Kia Achieve Record Market Shares in US EV Market
According to data released on Sunday, the top automaker in South Korea, Hyundai Motor, and its sister company, Kia, held the biggest market share for electric cars (EVs) in the US during the first five months of 2024.
EV sold in US Markets, Hyundai and Kia Achieve Record
As to the Korea Automobile Manufacturers Association’s data, out of the 437,246 EVs sold in the US market between January and May, the two automakers were responsible for 11.2 per cent, or 48,838, of the total cars sold.
This represents a significant increase from 10.6% in 2022 and 6.8% in 2023. According to Yonhap news agency, Hyundai and Kia only made up 3.2% of the US EV market in 2020.
The combined share of the two automakers lagged behind the US behemoth Tesla by 40.5 percentage points, which is a decrease from the 73.2 percentage point gap recorded in 2020.During the course of the five-month period, EVs accounted for roughly 40% of the environmentally friendly cars sold by Hyundai and Kia in the US.
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