Saturday, July 13, 2024
spot_img

Hyundai, Kia take record market share of US EV market

Date:

Share post:

spot_img
spot_img

Shillong, June 9:  South Korea’s top automaker Hyundai Motor and its sister company Kia captured the largest share of the US market for electric vehicles (EVs) in the first five months of 2024, data showed on Sunday.

 

The two carmakers accounted for 11.2 per cent, or 48,838, of the 437,246 EVs sold in the US market over the January-May period, according to data compiled by the Korea Automobile Manufacturers Association.

 

This marks a sharp rise from 6.8 per cent in 2023 and 10.6 per cent in 2022. In 2020, Hyundai and Kia only accounted for 3.2 per cent of the US EV market, reported Yonhap news agency.

 

The two carmakers’ combined share was 40.5 percentage points behind the US giant Tesla, narrowing from the 73.2 percentage point difference tallied in 2020.

 

EVs also made up nearly 40 per cent of the eco-friendly models sold by Hyundai and Kia in the US over the five-month period. The ratio was estimated at 17.2 per cent in 2020. (IANS)

spot_img
spot_img

Related articles

Want to make Maharashtra a global financial powerhouse, Mumbai fintech capital: PM Modi

Mumbai, July 13: Prime Minister Narendra Modi said the development projects worth Rs 29,000 crore launched in Mumbai...

Independent prevails over both NDA, INDIA bloc in Bihar bypoll

Patna, July 13: Independent candidate, Shankar Singh, has won the bypoll in Bihar’s Rupuali after defeating both NDA...

China issues alerts for mountain torrents

Beijing, July 13: China's meteorological and water resources authorities on Saturday evening issued a warning of impending mountain...

North Korea threatens ‘unimaginably harsh price’ following Seoul-Washington nuclear deterrence pact

Seoul, July 13:  North Korea condemned the joint nuclear deterrence guidelines signed by Seoul and Washington as a...