Despite recent discussions of a potential slowdown in the electric vehicle market, Kia’s EV9 electric SUV has defied expectations, with sales poised to surpass 50,000 units within its first year of launch. The vehicle has been particularly well-received in overseas markets, contributing to its impressive sales figures.
The EV9, which was unveiled in March 2023, commenced deliveries in Korea in June of the same year. Since its launch, global sales of the EV9 have surpassed 48,000 units, with industry sources indicating that the milestone of 50,000 units is likely to be reached in May. Kia has been consistently selling between 2,000 to 3,000 EV9s per month, demonstrating strong and sustained demand for the electric SUV.
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Export sales have been a major driver of the EV9’s success, accounting for 81.4% of Kia’s total sales volume in the first 11 months after its launch. This trend continued in 2024, with the EV9 representing 93% of Kia’s exports between January and April.
The US has emerged as a key market for the EV9, with 5,579 units shipped to the country, making it Kia’s largest sales market for the electric SUV.
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“The EV9 became an outstanding large electric SUV as it was well received in overseas markets,” noted an industry source in Seoul, highlighting the positive reception the vehicle has garnered internationally.
While overseas sales have been strong, domestic sales in Korea have faced challenges. Higher prices and early quality issues have been cited as factors contributing to sluggish sales in the country. In an effort to stimulate demand, Kia reduced EV9 prices by up to $2,620 (KRW 3.5 million) in February.
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In contrast, the EV9 has been instrumental in Kia achieving a record month for EV sales in the US, with 1,572 units sold in April alone.
Looking ahead, Kia is optimistic about the future of its electric vehicle lineup. The company is set to launch the entry-level EV3 later this year, with plans to introduce the model in Korea in July and Europe in the second half of the year. Priced around $30,000, the EV3 is expected to appeal to a broader market segment seeking affordable EV options.
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In 2023, Kia will introduce the EV4, a compact electric sedan priced at around $35,000, further expanding its range of affordable electric vehicles in response to growing demand.
