Hyundai Motor America has defied industry expectations by reporting robust sales figures for May, with 78,485 vehicles sold, marking a 12% increase from the same period last year. Year-to-date, the company has sold 331,892 vehicles, up 2% year-over-year.
The Korean automaker’s U.S. electrified vehicle sales, including EVs, hybrids, and plug-in hybrids, soared by 50% year-over-year, with all-electric vehicles witnessing a remarkable 42% increase compared to May 2023. Notably, May also marked the best sales month for Hyundai’s Ioniq 5 crossover.
In May, Hyundai sold 5,548 electric cars based on its E-GMP platform in the U.S., a 62% increase from a year ago. These E-GMP EVs accounted for 7.1% of Hyundai’s total volume, up from 4.9% a year ago.
The figures include a record-breaking 4,449 units of the Ioniq 5 (up 82% year-over-year) and 1,099 units of the Ioniq 6 (up 13%). Despite the absence of direct support from the $7,500 federal tax credit, which 60% to 70% of customers are bypassing by opting for leases, the Ioniq 5 continues to set new records.
Year-to-date, Hyundai has sold almost 21,000 Ioniq 5s and Ioniq 6s in the U.S., up 67% year-over-year and representing about 6.3% of the brand’s total volume.
“We continue seeing great success in our eco-friendly line-up with an overall 50% increase year-over-year,” said Randy Parker, CEO of Hyundai Motor America. “Both EVs and hybrids continue to gain popularity with Hyundai’s newest HEV, the 2024 Santa Fe gaining 116% YOY and our award-winning IONIQ 5 family increasing 82%. We’re proud to also announce Hyundai has America’s Most Awarded EV Lineup in the industry.”
Hyundai’s performance in the first half of the year has been impressive, but sustaining this momentum in the second half will be a key challenge. Unfortunately, the official statistics do not include sales results for other plug-in models like the Santa Fe PHEV and Tucson PHEV, as they are grouped with conventional or non-rechargeable hybrids.
The hydrogen fuel cell model, the Hyundai Nexo, saw a decline in sales, with just six units sold last month, down 63% year-over-year. Only 70 units have been sold in 2024, down 28% from last year.
