Cars are parked for export at a dock in the nation's southeastern city of Ulsan in this undated photo. Courtesy of Hyundai Motor
By Lee Min-hyung
Hyundai Motor and Kia set a new record in exports of eco-friendly vehicles in 2024, driven by the successful diversification of their sales territories, the carmakers said Tuesday.
The two firms sold a combined total of more than 707,000 hybrid and electric vehicles (EVs) in the global market last year, according to their sales estimates. This marks their largest annual export, an increase of 3 percent from a year earlier.
The achievement was driven by robust sales in North America and Europe. According to the carmakers, their eco-friendly car exports to key North American markets, namely the United States, Canada and Mexico, accounted for 55.6 percent of total overseas sales. Exports to Europe came in second with 18.7 percent, followed by 9.1 percent in the Asia-Pacific.
Among Hyundai Motor's models, the Tucson Hybrid compact SUV topped the list with 93,500 vehicles exported during the same period. The Kona Hybrid subcompact SUV came in second with sales of more than 70,000. The carmaker’s flagship IONIQ 5 EV rounded out the top three with over 68,000.
For Kia, the Niro Hybrid SUV emerged as the most exported vehicle, with more than 69,500 sales abroad last year. The EV6 was also the carmaker’s most popular EV worldwide, with Kia selling some 42,480 EV6 vehicles outside Korea during the same period. The Sportage Hybrid SUV came in third with 38,297.
Of particular note was the solid export growth of hybrid vehicles. The two carmakers exported more than 397,000 hybrids in 2024, up 44.6 percent from the previous year. This accounts for around 56 percent of their total eco-friendly vehicle exports. This was driven by customers' growing preference for vehicles with strong fuel efficiency ahead of mass adoption of EVs.
Their combined exports were worth $53.36 billion (78 trillion won) last year, accounting for around 7.8 percent of the nation’s total exports. The carmakers’ exports also made up around 75 percent of Korea’s total vehicle exports.
By segment, SUVs were the most popular, accounting for almost 70 percent of the two firms’ total exports during the same period. Hyundai Motor’s Avante compact sedan was also hailed as the bestselling export model, with its overseas sales reaching 231,000.
Both firms have sold more than 56 million vehicles in non-Korean territories since 1975.
“We will continue to strengthen our brand competitiveness and build a more flexible production and sales structure,” a Hyundai Motor official said.
“We will also widen investments here to contribute more to boosting Korea’s overall exports.”
English (United States) ·