Goldman Sachs
June 3, 2026
Hyundai and Kia US May Market Share
Monthly UpdateEquitiesMacro Economic IndicatorsConsumer Discretionary
Hyundai and Kia's combined US market share rose to 11.8% in May 2026, driven by explosive growth in Hybrid Electric Vehicle (HEV) sales.
Key Takeaways
- 1.Hyundai (HMC) and Kia reached a combined US market share of 11.8% in May 2026, up 0.3 percentage points year-over-year.
- 2.Hybrid Electric Vehicle (HEV) demand surged, with HMC's HEV volume up 90.1% YoY and Kia's up 179.4% YoY.
- 3.Incentive spending is increasing for both manufacturers, with HMC spending $3,330 per car (+16.8% YoY) and Kia spending $3,440 (+26.4% YoY).
Table of Contents
- South Korea Automobiles: HMC and Kia US May market share 11.8% (+0.3ppt YoY)
- HMC & Kia (together HMK) US monthly key metrics snapshot
- HMK US volume trend
- Price Target Risks and Methodology - Hyundai Motor
- Price Target Risks & Methodology - Kia
- Disclosure Appendix
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Authors
Do Hyoung KimJoshua Kim
Securities
005380.KS000270.KS
Themes
HEV dominance over BEVRising dealer incentives
Regions
North AmericaAsia PacificUnited StatesSouth Korea
