Hyundai plans to expand its hybrid lineup in the U.S. as part of a major global product expansion, widening the automaker’s reach with buyers seeking more fuel-efficient vehicles.
The details: Hyundai announced Wednesday that it is focused on strengthening its market position, aiming to lift its operating margin above 9%, according to Reuters.
The expansion includes the launch or refresh of 100 vehicles globally by 2030, in what has been described as Hyundai’s largest product rollout to date.
58 models will be introduced in the U.S., as the automaker looks to gain market share in key segments and address growing competition.
Under the plan, Hyundai aims to expand its global production capacity by 1.27 million units by 2030, including 500,000 in North America.
What they’re saying: "These segments account for roughly 29% of all automotive sales, highlighting significant opportunities for growth," Hyundai said in a statement per Reuters.
Why it matters: Hyundai’s expanded U.S. lineup and additional North American production capacity could give dealers more products to compete across key segments while providing greater flexibility to match inventory with shifting consumer demand.
OUTSMART THE CAR MARKET IN 5 MINUTES A WEEK
Get insights trusted by 55,000+ car dealers. Free, fast, and built for automotive leaders.
Between the lines: Hyundai’s U.S. hybrid push comes as demand for the vehicles grows, with hybrids seeing a significant surge in recent months as gas prices rise due to the conflict in Iran.
Hyundai Motor, which saw its sales rise 4% in the second quarter, reported a 67% increase in U.S. hybrid deliveries during the first half of the year, per CNBC.
Hyundai Motor Group—including Hyundai, Genesis and Kia—along with Honda and Toyota controls 86% of the U.S. hybrid market, according to Baum & Associates, per CNBC.
Bottom line: Hyundai is betting that a broader product portfolio—particularly more hybrids—can translate its current momentum into additional U.S. market share, giving dealers more opportunities to capture buyers prioritizing fuel economy without making the full jump to an EV.
A quick word from our partner
Your customers know their cars need regular maintenance.
Your transportation program needs the same thing, but most dealerships haven't looked under the hood in years.
Join Jon Hess, service manager at Circle CDJR, and Uber for Business to learn the five factors that inflate your transportation costs and see how to stop them.
