Hyundai and Kia Surge in U.S., Poised to Secure Annual Third Place Ahead of Ford
Ranked Third in Market Share for July and August
Hyundai Motor Group has ranked third in U.S. market share for two consecutive months.
According to market research firm Omdia on September 30, Hyundai Motor and Kia took the third spot in U.S. market share for July and August, overtaking Ford with a combined share of 12.1%. In July, Hyundai Motor and Kia sold 165,284 vehicles in the U.S., up 5.0% from the same month the previous year. General Motors (GM) held first place with a 16.7% market share, followed by Toyota at 15.9%. Ford, with a 12.0% share, dropped one spot to fourth.
In August, Hyundai Motor and Kia further widened the gap with Ford, raising their market share to 12.9%. The sales gap with Ford increased from 0.1 percentage points (1,751 vehicles) in July to 1.0 percentage point (14,042 vehicles) in August.
If this trend continues, Hyundai Motor and Kia are expected to secure the third spot in annual market share as well.
From January to August of this year, Hyundai Motor and Kia sold 1,264,072 vehicles in the U.S., earning a market share of 11.8%. Over the same period, Ford sold 1,299,420 vehicles with a 12.2% share. The gap between the two sides has narrowed to 35,348 vehicles, or 0.4 percentage points.
On a third-quarter basis, the third-place position is within reach. During July and August alone, Hyundai Motor and Kia recorded sales of 343,689 units, over 15,000 more than Ford's 327,896 units.
The U.S. media outlet Cox Automotive also projected that Hyundai Motor Group's U.S. sales for the third quarter would reach 511,421 units, surpassing Ford's 504,172 units. If the forecast holds, Hyundai Motor Group would take the third spot in U.S. quarterly sales.
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Last month, Hyundai Motor and Kia set a new monthly record in the U.S. for hybrid car (HEV) sales, moving 50,057 units. Hyundai Motor sold 25,109 HEVs, up 33% from the same month last year, while Kia's 24,948 units marked a 65.7% increase.
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