Hyundai has grown more than any automaker in the U.S.
The South Korean automaker wants to keep going by ramping up production at a new $7.6 billion plant in Georgia to capture more sales and market share.
TL;DR
- Hyundai Motor Group has achieved greater market share growth in the U.S. this decade than any other major automaker.
- The company's U.S. market share increased from 8.4% in 2020 to 11.8% in the first half of this year.
- Hyundai is investing $7.6 billion in a new plant in Georgia to ramp up production and capture more market share.
- The goal is for Hyundai to produce at least 80% of its U.S. sales domestically by 2030.
- Tariffs, including a 15% tax on autos from South Korea, have accelerated Hyundai's U.S. production plans.
- Hyundai plans over 100 vehicle launches and refreshes across Hyundai and Genesis by 2030, with a focus on electrification.
- The Genesis luxury brand has experienced rapid growth, becoming the fastest-selling luxury brand to 1 million sales globally.
- The company's philosophy of 'anything is possible' ('mueos-ideun ganeunghada') guides its ambitious growth strategy.