The number of new car sales in LA County during the first half of this year has slightly increased compared to the previous year. In addition, the market share of the three Korean car brands—Hyundai, Kia, and Genesis—reached 9.4%, showing strong sales performance. (Refer to the chart)

According to data from automakers and the California Department of Motor Vehicles (DMV) on the 19th, 215,301 new cars were sold in LA County during the first half of 2024, a 1.0% increase (2,069 units) compared to the 213,232 units sold in the first half of 2023. However, this is lower than the nationwide increase of 3.4% during the same period.

Once again, SUV and truck sales dominated over passenger cars in LA County. In the first half, only 31.0% of new car sales, or 66,636 units, were passenger cars, which represents a 9.7% decrease from 73,755 units in the same period last year. On the other hand, SUV and truck sales made up 69%, with 148,665 units sold, a 6.6% increase from 139,477 units sold in the previous year. Two out of every three new cars sold in LA County are now SUVs or trucks, reflecting the statewide and nationwide trend of rising SUV and truck sales.

By nationality, the market share of Japanese brands rose to 43.8%, up 3.2 percentage points from 40.6% in the same period last year. Meanwhile, the market share of U.S. brands, including Tesla, Ford, and Chevrolet, dropped from 30.5% in the first half of 2023 to 27.5% in the first half of 2024, a 3.0 percentage point decrease. European brands maintained a market share of 19.3%, the same as the previous year. Korean brands—Hyundai, Kia, and Genesis—accounted for 9.4% of the market in the first half of 2024, down 0.2 percentage points from 9.6% in the first half of 2023. In total, 20,319 units of Korean brands were sold in the first half, a 0.4% decrease from 20,407 units in the same period last year. Hyundai saw a sharp 16.3% increase in sales year-over-year, with its market share rising by 0.5 percentage points, from 3.7% to 4.2%. In contrast, Kia and Genesis experienced declines of 13.5% and 6.6%, respectively, during the same period.

Hyundai’s premium brand Genesis has surpassed its Japanese competitor Infiniti and is rapidly catching up to Acura. However, Kia still holds a higher market share and sales volume compared to Hyundai in LA County. Kia sold 9,864 units in the first half, securing a 4.6% market share and ranking 7th among all brands. In comparison, Hyundai sold 9,127 units, holding a 4.2% market share, ranking 9th.

Among the 36 brands surveyed, Japanese brands continued to dominate in LA County. Toyota maintained its lead with a 16.1% market share in the first half. Honda climbed to second place with 12.9%, overtaking Tesla, which dropped to third with 12.6%. The top 10 brands also included BMW (5.3%), Lexus (5.2%), Mercedes-Benz (4.7%), Kia (4.6%), Ford (4.4%), Hyundai (4.2%), and Chevrolet (3.9%). Genesis ranked 27th.

The top 10 best-selling models in LA County during the first half of the year were the Tesla Model Y, Toyota RAV4, Honda Civic, Toyota Camry, Honda CR-V, Tesla Model 3, Honda Accord, Toyota Corolla, Honda HR-V, and Lexus RX. Korean vehicles made the list with the Kia Forte at 14th and the Hyundai Ioniq 5 at 15th.

In the first half of 2024, 23.9% of new car sales in LA County were electric vehicles, 13.4% were hybrids, and 3.7% were plug-in hybrids, with eco-friendly vehicles accounting for a total of 41.0% of the market. This means that 4 out of every 10 new cars sold in LA County are eco-friendly vehicles.

By Hwandong Cho.

<Hwandong Cho>