Seoul: Hyundai Motor Group sold 65.1 percent of its vehicles in advanced markets, including the United States and Japan, last year, outstripping rival global automakers in profit-generating regions, a report showed Tuesday.
According to Yonhap News Agency, the report from credit appraiser Nice Investors Service Inc. indicated that advanced markets accounted for 65.1 percent of Hyundai Motor Group's total sales in 2024. This performance surpassed Toyota Motor's 59.2 percent, Volkswagen's 49.4 percent, and General Motors (GM) at 55.6 percent.
Advanced markets, as defined in the report, include the United States, Canada, Western Europe, South Korea, and Japan. These regions were noted for yielding higher average selling prices.
The South Korean auto group also led the competition in high-margin trim sales, with 68.5 percent of Hyundai Motor and Kia's combined sales originating from premium models as of June. This figure surpassed GM, Toyota, and Volkswagen, which reported 65.1 percent, 63 percent, and 55.1 percent, respectively.
Analysts attributed the group's strong performance to rising sales of sport utility vehicles (SUVs) and those from Genesis, its independent luxury brand.
Hyundai Motor and Kia's financial strength was also rated as solid, according to the report. As of the end of June, Hyundai's debt ratio stood at 63.8 percent, and Kia's at 64.6 percent. Although slightly higher than Toyota's 54.6 percent, these figures were significantly more stable compared to Volkswagen's 114.5 percent and GM's 180.4 percent.