Kia And Hyundai’s EV And Hybrid Push Continues To Pay Off

It is Oct. 1, which suggests new automotive gross sales information from each the previous month and the entire third quarter of 2024 are beginning to trickle in. Proper out of the gate, we’re seeing the ripple results of record-high costs and rates of interest on gross sales, not only for electrical autos however more and more all new automobiles.

However not each automaker is feeling that sting equally. Hyundai and Kia are each reporting huge U.S. gross sales the place EVs and hybrids are involved.

Kia’s Hybrids, EVs Add Up To Data

We’ll begin with Kia as a result of it is reporting record-setting gross sales of its electrified fashions. “Regardless of fewer promoting days in comparison with final yr, Kia’s EVs and PHEVs are up 43% and 11% year-over-year,” the automaker mentioned in a information launch. 

In complete, Kia noticed 56,047 new automobile gross sales in September, down 17% from the earlier yr because the auto business offers with an affordability crunch.

However on the battery-powered entrance, the Kia EV9 nonetheless noticed its third-best gross sales month ever in September with 2,096 fashions moved. 12 months-to-date, 15,970 American homeowners have gone dwelling in an EV9. (The EV9 went on sale final December, so there is not any year-over-year information to match it to.) 

InsideEVs

The Kia EV6, in the meantime, slowed all the way down to 1,612 gross sales in September, which is a 23% decline from the earlier yr. Nevertheless, with 15,985 gross sales this yr, the EV6 and EV9 collectively characterize greater than 30,000 Kia EVs on the highway.

Kia doesn’t separate out gross sales of the Niro EV from its gasoline and hybrid counterparts. It additionally doesn’t escape the gross sales information for its hybrid fashions, however from this, we will presume that the Sportage Hybrid, Sorento Hybrid and Carnival MPV Hybrid are driving a big a part of these fashions’ gross sales as of late. 

Kia additionally reaffirmed that Tesla’s Supercharger community will likely be open within the coming months to EV6 and EV9 drivers by way of a North American Charging Normal (NACS) adapter. When you acquired a kind of automobiles on Sept. 4 or afterward, you get an adapter free of charge. When you bought one sooner than that, you should buy an adapter in a while.

Kia added that entry to Tesla’s DC quick chargers is deliberate for January 15, 2025.

Hyundai Nonetheless Sees Robust Demand For Ioniq 5, Hybrids (However Not Ioniq 6)

Hyundai

2025 Hyundai Ioniq 5 N homeowners can get both a complimentary dwelling charger or $450 in ChargePoint credit

It is a related story over at Hyundai. The model reported complete September gross sales of 62,491 automobiles, down 9% from the earlier yr. Nonetheless, of the automobiles Hyundai managed to promote, folks went exhausting for hybrids.

“Hyundai set complete gross sales data in September for Santa Fe HEV (+87%), Tucson HEV (+52%), and Palisade (+9%),” the automaker mentioned in an announcement. “Hybrid automobile complete gross sales jumped 36%.” 

On the EV entrance, gross sales of the favored Ioniq 5 had been down barely from 2023, coming in at 3,336 items moved to final September’s 3,958 items. I do surprise if some clients are holding out for the up to date 2025 Ioniq 5 to go on sale as a result of that automotive will pack a local NACS plug from the manufacturing facility and instantaneous Supercharger entry. 

Even so, gross sales of the Ioniq 5 are up properly year-over-year, presently at 30,318 offered up to now vs. 25,306 the identical time in 2023.

Hyundai

It is a much less rosy story for the Ioniq 6, which, whereas glorious, remains to be a sedan doing battle in an SUV world. Hyundai offered 599 of them in September, down a complete 64% from the identical month final yr. Nonetheless, year-to-date Ioniq 6 gross sales are at 9,097 in comparison with 8,318 in the identical interval final yr. 

So What Does It Imply? 

All of those numbers are proof that even Hyundai Motor Group, in addition to it is carried out this yr, is not resistant to the twin headwinds of excessive new automotive prices and excessive rates of interest. However it exhibits that when People do purchase new automobiles, they’re extra into hybrids and even EVs than ever—as long as they’re outfitted nicely and priced nicely.

2024 Hyundai Ioniq 5 N Assessment

Based mostly on the sheer quantity of emails we get right here at InsideEVs, I do suppose many shoppers are holding out for native Tesla Supercharger entry or no less than a NACS adapter. Charging anxiousness could be very actual and something automakers can do to ease it’s going to assist get extra folks into extra EVs and quicker. 

The gross sales decline for the Ioniq 6 is a disgrace to see, however it’s not stunning. Apart from the reasonably priced Elantra and Forte, the 2 manufacturers’ sedan gross sales are by no means a lot to put in writing dwelling about both. However the Ioniq 6 is type of a hidden gem within the EV world with actually excellent vary of as much as 342 miles. You might be able to get a great value on one if you could find a seller prepared to play ball to allow them to filter room for extra SUVs.

However some excellent news could also be on the horizon for Hyundai and Kia. Each are ramping up U.S. manufacturing of their EVs, beginning with the 2025 Ioniq 5 and, extra just lately, the EV9 as nicely. Extra are coming; U.S. manufacturing of the EV6 is predicted as nicely. That ought to qualify these automobiles for no less than among the tax credit upon buy, whereas these reductions had been beforehand solely obtainable when leased. 

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