As international oil prices continue to soar above $100 per barrel, hybrid vehicles are gaining traction in the U.S. auto market. With electric vehicles facing declining interest due to policy changes and rising gasoline prices, consumers are increasingly turning to hybrids, which offer better fuel efficiency. Hyundai Motor and Kia are ramping up their market strategies by launching new models and expanding their hybrid lineups.
On September 10, West Texas Intermediate (WTI) crude oil futures for October delivery closed at $102.48 per barrel, up $6.43 (6.69%) from the previous session. Brent crude for November delivery also rose for the fifth consecutive trading day, finishing at $107.63, an increase of $6.42 (6.34%). Concerns over oil supply disruptions have intensified due to ongoing U.S. airstrikes, retaliatory attacks from Iran, and incidents involving tankers in the Strait of Hormuz.
In the U.S., rising gasoline prices are already influencing consumer vehicle choices. If high oil prices persist, the economic advantages of hybrids will become more pronounced. In contrast, the U.S. electric vehicle market is currently stalling due to reduced subsidies and policy shifts.
Last month, Hyundai and Kia sold 57,735 eco-friendly vehicles in the U.S., marking a 15.5% increase from the same month last year and setting a record for monthly sales. Of these, hybrids accounted for 50,057 units, representing 86.7% of total sales, with hybrid sales up 47.7% year-over-year.
In response to these market trends, Hyundai and Kia are enhancing the competitiveness of their key models in the U.S. Hyundai is preparing new versions of the Tucson and Elantra, which are currently the top-selling models in the U.S. The next-generation Tucson will be a fully redesigned fifth-generation model, available in both hybrid and internal combustion engine variants. The next-generation Elantra is expected to be based on the newly unveiled domestic model.
The Genesis GV80 hybrid, the brand's first hybrid vehicle, will begin its domestic rollout this month, with plans for a global launch later this year. The company aims to introduce 10 new hybrid models by 2030, increasing the hybrid share of its total sales to 50%. Kia is also set to launch a next-generation hybrid model of its compact SUV, the Seltos, in the U.S. soon.
An industry insider noted, "While the transition to electric vehicles will continue in the long term, hybrids may serve as a key transitional power in the U.S. market for the time being. As high oil prices persist and volatility increases, fuel cost will inevitably become a major purchasing criterion."
* This article has been translated by AI.
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