November 27, 2024

• 

[THE INVESTOR] Sales of the Genesis, the luxury brand of South Korea’s Hyundai Motor, marked the highest monthly market share in the US luxury sedan market last month, industry data showed on Feb. 12.

The company sold 1,389 units of the midsize G80 and 473 units of its flagship G90 in January in the United States, according to the data.

The combined sales of the two Genesis models, 1,862 units, accounted for 11.1 percent of the US’ total demand of 16,702 over the same period. The total trails the 4,022 Mercedes Benz E-Class sold in January and the 1,849 units of the Cadillac XTS.

It is the highest market share on a monthly basis since the G80 hit the US showrooms in August last year.

The G80 reached a 10 percent market share in its first month but fell to 6.4 percent in December.

Hyundai Motor expects the Genesis models to attain a steady 10 percent market share level in the US premium car market segment by the end of this year.

(theinvestor@heraldcorp.com)