Hyundai Motor America faced challenges in January in the U.S., citing “economic challenges and interest rates making it a tough retail environment.” Vehicle sales dropped to 47,543, marking an 8.6% decrease compared to the previous year.
Despite these difficulties, Hyundai found a silver lining in the EV segment, with significant growth in plug-in electric car sales compared to the previous year.
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Hyundai EV sales surges
Hyundai is rapidly increasing sales of its plug-in electric cars in the U.S., positioning itself as one of the top traditional brands in the segment. Hyundai will soon begin local production of all-electric cars in the U.S. as well.
In January, Hyundai’s plug-in electric car sales saw a 77% year-over-year increase, though the exact number was not disclosed. All-electric car sales also rose by 42% year-over-year, with exact figures not provided by the company.
The sales of Hyundai’s E-GMP-based all-electric cars, such as the Ioniq 5 and Ioniq 6, amounted to 2,225 units, representing a 44% increase year-over-year. E-GMP BEVs accounted for 4.7% of Hyundai’s total volume, up from 3.0% the previous year.
In addition, the Hyundai Kona Electric, while not reporting specific numbers, is grouped with the internal combustion Kona.
Hyundai’s BEV sales last month (YOY change):
- Hyundai Ioniq 5: 1,465 (down 5%)
- Hyundai Ioniq 6: 760 (new)
- Hyundai Kona Electric: N/A
- Total Ioniq family: 2,225 (up 44%) and 4.7% share
For reference, the total sales of the Hyundai Ioniq 5/Ioniq 6 in 2023 amounted to 46,917 units, representing about 5.9% of the total volume.
Hyundai’s BEV sales in 2023 (YOY change):
- Hyundai Ioniq 5: 33,918 (up 48%)
- Hyundai Ioniq 6: 12,999 (new)
- Hyundai Kona Electric: N/A
- Total Ioniq family: 46,917 (up 104%) and 5.9% share
It is anticipated that Hyundai will set new record levels for all-electric and plug-in hybrid car sales in 2024.
Regrettably, official statistics do not include the sales results of other plug-in models like the Santa Fe PHEV and Tucson PHEV, as they are grouped with conventional or non-rechargeable hybrids.
In the hydrogen fuel cell category, the Hyundai Nexo recorded 23 units sold last month, marking a 44% increase year-over-year. In 2023, 241 Nexo units were delivered, representing a 41% decrease from the previous year.