Hyundai Motor and its affiliate Kia posted the highest market share among electric vehicles in the U.S. for the first five months of 2024, data showed.
The two took a combined 11.2 percent, or 48,838 units, of the total 437,246 units of EVs sold in the U.S. market from January to May, according to the data compiled by the Korea Automobile Manufacturers Association.
This is compared to market shares of 6.8 percent in 2023 and 10.6 percent in 2022 higher. According to a report by the Yonhap news agency, Hyundai and Kia controlled 3.2 percent of the US EV market in 2020.
They still trailed far behind the US auto powerhouse Tesla by 40.5 percentage points, a sharp decrease from a gap of 73.2 percentage points seen in 2020.
Hyundai and Kia accounted for their EVs reaching close to 40 percent of the total eco-friendly vehicle sales in the US over the five-month period, compared with an estimated 17.2 percent share in 2020.
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