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Combined Market Share of Hyundai, Kia in US EV Market Hits Record 11.2% through May

Written: 2024-06-09 13:51:40Updated: 2024-06-09 13:52:32

Combined Market Share of Hyundai, Kia in US EV Market Hits Record 11.2% through May

Photo : KBS News

The combined market share of Hyundai Motor and its affiliate Kia Corporation in the United States market for electric vehicles reached a record high in the first five months of the year. 

According to the Korea Automobile Manufacturers Association on Sunday, the two automakers sold 48-thousand-838 EVs in the United States in the cited period, accounting for eleven-point-two percent of the market. 

This represents the largest figure for the five-month period. 

Hyundai and Kia have steadily increased their market share in the United States EV market for the period, from three-point-two percent in 2020, two-point-four percent in 2021, and ten-point-six percent in 2022. 

The figure dropped to six-point-eight percent last year but rebounded to a double-digit figure this year despite a slowdown in the growth of the U.S. EV market.

EVs also made up nearly 40 percent of the eco-friendly models sold by Hyundai and Kia in the United States over the five-month period.

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