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Hyundai Motor America Reports September Sales Drop But Q3 Sales Rise By 5%
Hyundai Motor America reported a 9% drop in September sales, totalling 62,491 units compared to the previous year. Despite this, Hyundai achieved record sales for the Santa Fe HEV, Tucson HEV, and Palisade models. Hybrid vehicle sales saw a significant 36% increase. Randy Parker, CEO of Hyundai Motor America, noted that fewer selling days in September affected comparisons but highlighted strong hybrid demand.
In the third quarter of 2024, Hyundai set a new benchmark for retail sales with 210,971 units sold. This marks a 5% rise from Q3 2023 and stands as the second-best Q3 in Hyundai's history. The company also recorded unprecedented Q3 total and retail sales for its Santa Fe HEV, Tucson HEV, and Palisade models.
Hyundai's hybrid models have been particularly successful, with a notable increase in demand. The IONIQ 5 model saw a 30% rise in retail sales during Q3. This success is attributed to both consumer interest and the efforts of Hyundai's retail partners.
Hyundai Motor Company reached a major milestone by producing its 100 millionth vehicle globally. This achievement was accomplished in just 57 years since the company's inception, making it one of the fastest-growing automotive manufacturers worldwide.
The company has also announced plans to release the U.S.-built 2025 IONIQ 5. This refreshed model includes a rugged variant called the IONIQ 5 XRT, designed for off-road adventures.
Collaborations and Initiatives
Hyundai and General Motors have signed an agreement to explore collaborations on vehicles, supply chains, and clean-energy technologies. This partnership aims to leverage their strengths to reduce costs and accelerate the delivery of new technologies to consumers.
Additionally, Hyundai Hope On Wheels celebrated its $26 million commitment at its annual gala in Washington D.C., marking its lifetime giving milestone of $250 million towards pediatric cancer research.
Awards and Recognitions
The high-performance all-electric IONIQ 5 N SUV won three categories at the Drive Revolution competition sponsored by NWAPA. Furthermore, it was included in Wards' list of the top ten engines and propulsion systems for 2024.
The Sonata HEV Limited was named best in its category at SAMA's inaugural Charged Up Miami event. These accolades highlight Hyundai's commitment to innovation and excellence in electric vehicle technology.
Economic Impact
Hyundai Motor America's operations significantly contribute to the U.S. economy with $20.1 billion annually and support approximately 190,000 jobs. The company's North American headquarters is located in California with additional facilities across Alabama and Georgia.
The economic impact report underscores Hyundai's role as a major player in the automotive industry within the United States through its extensive network of dealers and manufacturing plants.
This year has been pivotal for Hyundai with several achievements despite challenges like reduced selling days affecting monthly comparisons. The company remains focused on closing out the year strongly with an aim to set another annual sales record.
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