market share, Hyundai continued closing the gap with Tesla as the second-largest EV brand in the US through July. Hyundai, Kia, and Genesis take second in US EV market Through the first seven months of 2024, Hyundai, Kia, and Genesis accounted for 10% of the US EV market. Hyundai outpaced Ford (7.
4%) and GM (6.3%), according to Motor Intelligence. Tesla's share of the US EV market slipped below 50% for the first time in the second quarter.
Tesla accounted for 49.7% of EV sales in the US in Q2 as new models hit the market. Although IONIQ 5 and 6 sales slipped last month, they are still up 25% and 54% year-to-date, respectively.
Meanwhile, sister company Kia continued its record-setting performance in July after EV sales nearly doubled YTD. Kia's new EV9, its first three-row electric SUV, is a major part of its growth. According to Kelley Blue Book, Kia EV9 sales outpaced the Toyota bZ4X, VW ID.
4, Nissan Ariya, Rivian R1T, and Tesla Model S in the US through the first half of 2024. It even topped Kia's Niro EV sales. Hyundai's luxury brand, Genesis, remains a dark horse in the US EV market.
Genesis is quickly expanding in the US. Hyundai IONIQ 5 (Source: Hyundai) After adding 21 dedicated retailers in the US this year, including in eight new states, Genesis recently announced it now has 56 standalone facilities. "In two short years, Genesis' retail footprint has grown rapidly from one.
.. Peter Johnson.
