In 2024, global automakers fiercely competed for dominance in the U.S. auto market, home to 340 million people. As fourth-quarter sales figures were released, the battle between leading manufacturers maintaining their positions and challengers striving to move up the ranks grew more intense.

The top four positions remained unchanged in 2024. General Motors (GM) held the top spot with 2,705,080 units sold, followed by Toyota with 2,678,292 units and Ford with 2,169,985 units. Hyundai Motor Group solidified its 4th place position with 1,708,293 units sold, narrowing the gap with Ford.

Record-breaking Sales for Hyundai Motor Group
Hyundai Motor Group achieved its highest-ever U.S. sales, surpassing 1.7 million units for the first time. This marked an increase of over 50,000 units compared to its previous record in 2023 (1,652,821 units). Analysts anticipate that Hyundai could soon surpass Ford if the current trend continues.

Hyundai sold 911,805 vehicles in 2024, reflecting a 4.8% increase from the previous year. Its fourth-quarter sales alone grew by 10% year-over-year. The company’s performance was driven by strong sales of recreational vehicles (RVs) and eco-friendly models. The Palisade SUV set a new record with 110,055 units sold, while the Ioniq 5 electric vehicle also reached a record-breaking 44,400 units.

Kia recorded 796,488 units sold, a 1.8% increase year-over-year. Models such as the EV9, Sportage, Carnival, K3/K4, EV6, and Telluride all achieved record sales. A Hyundai Motor Group representative stated, “Despite global uncertainties and challenges like the U.S. Inflation Reduction Act (IRA), we performed well in the local market thanks to strong RV and eco-friendly vehicle sales.”

Genesis Shows Strong Growth
Genesis, Hyundai’s luxury brand, sold 75,003 units in 2024, an 8.4% increase from the previous year. Genesis continued to outperform long-established luxury brands like Infiniti in annual U.S. sales. It also far outpaced brands such as Alfa Romeo (8,865 units), Maserati (6,320), Bentley (3,840), Lamborghini (3,826), Rolls-Royce (1,765), and McLaren (1,270).

However, Genesis still trails behind premium competitors such as BMW (371,346 units), Lexus (345,669), Mercedes-Benz (324,528), Audi (196,576), Cadillac (160,204), Acura (132,367), and Volvo (125,243).

Strategies for Growth
Experts emphasize the need for Hyundai Motor Group to further diversify and refine its model lineup. Expanding sales in key segments like internal combustion engines, hybrids, and electric vehicles will be critical for solidifying its position and challenging market leaders.

Hyundai is already strengthening partnerships with competitors to secure growth. In September 2023, Hyundai announced a strategic alliance with GM, the leading U.S. automaker. The partnership encompasses areas such as passenger and commercial vehicles, internal combustion and eco-friendly energy solutions, as well as joint development and production of electric and hydrogen technologies.

Competitive Landscape
Trailing Hyundai Motor Group were Stellantis (1,428,254 units) and Honda (1,423,857 units) in 5th and 6th places, respectively. Subaru made a significant leap, climbing from 11th to 8th place, surpassing Tesla and Audi.



<Hongyong Park>