Hyundai Motor Company, ‘Best Year’ reservation in the US market… “IRA is the future test bed”

Hyundai Motor Company, ‘Best Year’ reservation in the US market… “IRA is the future test bed”


Hyundai Motor Group, which has emerged as the world’s fourth-largest automobile maker, is also increasing its automobile sales in the United States.

Local media diagnosed that this year will record the largest market share ever.

Correspondent Taejong Kim.


The US CNBC broadcast evaluated that Hyundai Motor Group booked ‘the best year’ in the United States this year.

Hyundai Motor, Kia, and Genesis are expected to record about 11% of the market share in the US new car market this year.

This is the highest market share since Hyundai first entered the US market in 1986.

An executive from Consumer Reports, an American consumer media outlet, evaluated that Hyundai Motors and Kia Motors have gone from cost-effective cars to highly competitive cars after entering the US.

It is an analysis that the advance of the luxury brand Genesis in 2015, the success of large SUVs (Sport Utility Vehicles) such as Telluride and Palisade, and the success of electric vehicles such as Ioniq 5 and EV6 raised the image of Hyundai Motor Group.

However, CNBC diagnosed that it is questionable whether Hyundai Motor Group will be able to continue to win in the US market.

In particular, in the case of electric vehicles, the fact that they were discriminated against in tax credits due to the implementation of the US Inflation Reduction Act (IRA) is inevitably placed at a disadvantage in competition with American electric vehicles.

Jae-hoon Jang, CEO of Hyundai Motor Company, said at the groundbreaking ceremony for an electric vehicle plant in Georgia last month that the exclusion of tax credits would be a “concerned and very challenging issue.”

This is Yonhap News Kim Tae-jong from San Francisco.

#Hyundai Motor #IRA #Best_Year

Yonhap News TV article inquiries and reports: Kakao Talk/Line jebo23


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