Gold Prices Slip From 10-Week High as Fed and Hormuz Risks Shape Outlook 
Strait of Hormuz Shipping Near Standstill After New Vessel Attacks 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
Thyssenkrupp Raises 2026 Profit Outlook as Steel and Materials Units Strengthen 
Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Bill Ackman’s Pershing Square Returns to Netflix With Major New Stake 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Infosys Shares Drop Amid Earnings Quality Concerns 
Asian Currencies Edge Higher as Soft US Inflation Weighs on Dollar 
Oil Prices Slide as OPEC, IEA Cut 2026 Demand Forecasts 
Ferrari Group to Launch IPO in Amsterdam, Targets Over $1 Billion Valuation 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Add as a preferred source on Google
Hyundai and Kia sustain market momentum, capturing a combined U.S. market share of 10.6% in H1 2023, according to Automotive News. Their robust growth, fueled by strong vehicle sales and resilient EV performance, counters potential setbacks from the Inflation Reduction Act.
During January-June, their combined share increased by 0.3 percentage points from the previous year to reach 10.6 percent. Last year, Hyundai and Kia achieved double-digit market shares for the first time, and they managed to sustain this level over the first six months of 2023.
Regarding market position, Hyundai accounted for 5.5 percent of the market share, including its premium brand Genesis, while Kia held a 5.1 percent share. General Motors Co. secured the top spot with a market share of 16.7 percent, followed by Toyota Motor Corp. with 13.5 percent and Ford Motor Co. with 13 percent. Fourteenth on the list, Hyundai and Kia overtook Stellantis N.V., which recorded a market share of 10.5 percent.
Positive sales growth was observed for Hyundai and Kia in the United States, with a combined total of 820,180 vehicles sold in the first half of the year, representing a 16.7 percent increase compared to the same period last year. Notably, the Hyundai Tucson compact SUV stood out as one of the most popular models, achieving sales of 100,591 units in the first half.
Despite the Inflation Reduction Act (IRA), which offers up to US$7,500 in tax credits to buyers of electric vehicles (EVs) assembled only in North America, Hyundai and Kia witnessed an 11.4 percent year-on-year increase in EV sales, reaching a total of 38,057 units in the six months. Moreover, Hyundai Motor Group has started producing all-electric GV70 SUVs under its independent Genesis brand at its Alabama plant.
Looking ahead, Hyundai Motor Group plans to build an EV and EV battery plant in Georgia and aims to commence production in the first half of 2025.
Photo: Hyundai Motor Group/Unsplash
