Boeing Secures New Labor Contract With Former Spirit AeroSystems Employees 
SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
Disney Board Nears CEO Decision as Josh D’Amaro Emerges as Leading Candidate 
Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
NRW Holdings Shares Surge After Securing Major Rio Tinto Contract and New Project Wins 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Tesla Launches New Model Y Variant in the US Starting at $41,990 
Nvidia Confirms Major OpenAI Investment Amid AI Funding Race 
Hyundai Motor Lets Russia Plant Buyback Option Expire Amid Ongoing Ukraine War 
Using the Economic Calendar to Reduce Surprise Driven Losses in Forex 
Boeing Signals Progress on Delayed 777X Program With Planned April First Flight 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
According to the companies Friday, cumulative sales of eco-friendly vehicles produced by Hyundai Motor Co. and Kia Corp., South Korea's leading automakers, are expected to exceed 1 million units in the first quarter.
According to Korea Times, Hyundai and Kia officials said they are expected to surpass the 1 million mark in the January-March period.
As of the end of 2023, combined sales of eco-friendly units from Hyundai and Kia had already reached an impressive 946,962 units. Company officials anticipate exceeding the 1 million milestone within the January-March period.
Strong Performance in the United States
Korea Bizwire reported that last year, the companies sold 278,122 eco-friendly cars, including electric vehicles and hybrids, combined in the United States, representing a 52.3 percent sales growth from 2022.
This growth indicates a growing demand for electric vehicles (EVs) and hybrids in the American market.
Hyundai and Kia's market share of eco-friendly vehicles in the U.S. has consistently stayed above the 20 percent mark since 2021, reflecting their position as key players in this segment.
After a year of robust sales growth, with a significant increase of 12.1 percent in 2023, the U.S. has become a pivotal market for Korean carmakers. Hyundai and Kia expect this positive sales trend to continue throughout 2024 as the demand for EVs and other premium vehicle models rises.
Reshaping Brand Identity
Hyundai and its affiliate, Kia, have successfully reshaped their brand identities. The enhanced brand power and increased sales growth in the U.S. market are testaments to their success in this endeavor.
An official from Hyundai Motor attributed this success to customers' confidence in purchasing vehicles from Hyundai and Kia. The companies are no longer seen as solely price-competitive manufacturers but as brands with strong identities.
Hyundai and Kia are confident in setting another sales record this year by focusing on value-added and eco-friendly cars. In 2023, the automakers achieved a remarkable sales growth of 52.3 percent for their eco-friendly vehicles, including EVs. Their market share was 16.8 percent, a five-fold increase from three years earlier.
Photo: Hyundai Media Center
