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Home Kia’s Global Electric Vehicle Sales Jump 93% in May, Sets New Record
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Kia’s Global Electric Vehicle Sales Jump 93% in May, Sets New Record

By Moira ShortleJune 22, 2024No Comments2 Mins Read
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Credit: Kia

Kia Motors has announced a 2.1% year-over-year decrease in global vehicle sales for May, totaling 264,313 units. Despite this overall decline, the company experienced a significant surge in all-electric car sales, setting a new record.

Kia reported that retail all-electric car sales reached 19,407 units in May, marking a 93% increase from the previous year. The share of EVs out of the brand’s total volume reached 7.5%.

See also: Kia Plans to Manufacture EV3 in Mexico, Leveraging US Federal Tax Credit

Credit: Kia

The company’s all-electric lineup includes the EV5, EV6, EV9, Niro EV, Niro Plus EV, Soul EV, and the Korea-only Ray EV and Bingo EV. Kia anticipates further growth in EV sales with the upcoming launch of the all-new EV3 model in the second half of 2024.

Wholesale shipments of Kia’s E-GMP-based models, which are closely related to production, totaled nearly 12,500 units in May, up 29% year-over-year. This includes production of the EV3, EV6, and EV9 in South Korea, as well as the EV5 in China.

See also: SQM Secures Long-Term Lithium Supply Deal with Hyundai and Kia

Credit: Kia

Kia’s best-selling EV model remains the Kia EV6, with 6,081 wholesale units sold in May, although this represented a 37% decrease year-over-year. The company expects the EV6’s sales to improve with the introduction of the updated version.

The EV5 set a new monthly wholesale record in May, while initial units of the EV3 also began production.

See also: Hyundai and Kia Gain Ground on Tesla in US EV Market

Credit: Kia

So far in 2024, Kia has sold over 80,000 retail EVs, with a growth rate estimated at up to 75%. Wholesale shipments of E-GMP-based models have exceeded 55,000 units.

Looking back at 2023, Kia’s wholesale shipments of E-GMP-based electric cars totaled 132,711, reflecting a 59% year-over-year increase. The outlook for Kia in the second half of the year is positive, particularly with the anticipated launch of the EV3.

See Also:

  1. Kia Achieves Impressive EV6 Sales in the US in May, Marking 7% Year-Over-Year Growth and Best Performance in Nearly a Year
  2. Kia Reports Strong February Vehicle Sales and Impressive Growth in All-Electric Car Sales
  3. Kia America’s EV Sales Surge by 65% in February, Driving Growth Amidst Overall Dip
  4. Kia’s EV9 Hits Milestone 50,000 Sales Mark, Driven by Strong Overseas Demand
  5. Kia America Achieves Milestone with Over 7,000 EV Sales in May
EV sales Kia EV5 Kia EV6 Kia EV9 Kia Niro Korea
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