Hyundai Motor America reported a challenging January in the U.S., citing economic hurdles and interest rates contributing to a difficult retail environment. The company’s vehicle sales saw a year-over-year decline of 8.6%, totaling 47,543 units.
Despite the overall downturn, Hyundai found positive momentum in the electric vehicle (EV) segment, witnessing significant year-over-year growth in plug-in electric car sales.
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In January, Hyundai reported a remarkable 77% year-over-year increase in plug-in electric car sales, without specifying the exact figures. The brand also noted a 42% year-over-year rise in all-electric car sales, though specific numbers were not disclosed.
Sales of Hyundai’s all-electric cars based on the E-GMP platform, including the Ioniq 5 and Ioniq 6, reached 2,225 units, reflecting a 44% year-over-year increase. Notably, E-GMP battery electric vehicles now constitute 4.7% of Hyundai’s total volume, up from 3.0% a year ago.
Additional contributions to Hyundai’s EV portfolio come from the Hyundai Kona Electric, although specific figures are not reported as it is grouped with the internal combustion Kona.
Hyundai’s breakdown of EV sales for January includes:
- Hyundai Ioniq 5: 1,465 units (down 5%)
- Hyundai Ioniq 6: 760 units (new model)
- Hyundai Kona Electric: Numbers not available
- Total Ioniq family: 2,225 units (up 44%) with a 4.7% share
Throughout 2023, Hyundai’s total sales of the Ioniq 5 and Ioniq 6 reached 46,917 units, representing approximately 5.9% of the overall volume.
Hyundai anticipates a positive trajectory for its electric and plug-in hybrid car sales in 2024, aiming for new record levels. However, official statistics currently do not include sales results for other plug-in models, such as the Santa Fe PHEV and Tucson PHEV, as they are grouped with conventional hybrids.
The hydrogen fuel cell model, Hyundai Nexo, reported 23 units sold in January, marking a 44% year-over-year increase. In 2023, 241 units of the Nexo were delivered, representing a 41% decline compared to 2022.
