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

It is Oct. 1, which implies new automobile gross sales information from each the previous month and all the 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 vehicles.

However not each automaker is feeling that sting equally. Hyundai and Kia are each reporting massive 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 12 months, Kia’s EVs and PHEVs are up 43% and 11% year-over-year,” the automaker stated in a information launch. 

In complete, Kia noticed 56,047 new car gross sales in September, down 17% from the earlier 12 months 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. Yr-to-date, 15,970 American homeowners have gone house in an EV9. (The EV9 went on sale final December, so there is not any year-over-year information to check 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 12 months. Nonetheless, with 15,985 gross sales this 12 months, the EV6 and EV9 collectively characterize greater than 30,000 Kia EVs on the street.

Kia doesn’t separate out gross sales of the Niro EV from its gasoline and hybrid counterparts. It additionally doesn’t get away the gross sales information for its hybrid fashions, however from this, we are able to 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 shall be open within the coming months to EV6 and EV9 drivers by way of a North American Charging Commonplace (NACS) adapter. In the event you received a kind of vehicles on Sept. 4 or afterward, you get an adapter totally free. In the event you bought one sooner than that, you should purchase 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 house charger or $450 in ChargePoint credit

It is a comparable story over at Hyundai. The model reported complete September gross sales of 62,491 vehicles, down 9% from the earlier 12 months. Nonetheless, of the vehicles Hyundai managed to promote, individuals went onerous for hybrids.

“Hyundai set complete gross sales data in September for Santa Fe HEV (+87%), Tucson HEV (+52%), and Palisade (+9%),” the automaker stated in a press release. “Hybrid car complete gross sales jumped 36%.” 

On the EV entrance, gross sales of the favored Ioniq 5 have been down barely from 2023, coming in at 3,336 models moved to final September’s 3,958 models. 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 automobile will pack a local NACS plug from the manufacturing unit and on the spot Supercharger entry. 

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

Hyundai

It is a much less rosy story for the Ioniq 6, which, whereas wonderful, 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 12 months. Nonetheless, year-to-date Ioniq 6 gross sales are at 9,097 in comparison with 8,318 in the identical interval final 12 months. 

So What Does It Imply? 

All of those numbers are proof that even Hyundai Motor Group, in addition to it is completed this 12 months, is not proof against the twin headwinds of excessive new automobile prices and excessive rates of interest. However it exhibits that when Individuals do purchase new vehicles, they’re extra into hybrids and even EVs than ever—as long as they’re geared up effectively and priced effectively.

2024 Hyundai Ioniq 5 N Evaluate

Based mostly on the sheer quantity of emails we get right here at InsideEVs, I do assume many purchasers are holding out for native Tesla Supercharger entry or at the very least a NACS adapter. Charging anxiousness could be very actual and something automakers can do to ease it is going to assist get extra individuals into extra EVs and sooner. 

The gross sales decline for the Ioniq 6 is a disgrace to see, nevertheless it’s not shocking. Except for the reasonably priced Elantra and Forte, the 2 manufacturers’ sedan gross sales are by no means a lot to write down house about both. However the Ioniq 6 is sort 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 very good worth on one if you’ll find a seller prepared to play ball to allow them to filter out 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 effectively. Extra are coming; U.S. manufacturing of the EV6 is predicted as effectively. That ought to qualify these vehicles for at the very least a number of the tax credit upon buy, whereas these reductions have been beforehand solely obtainable when leased. 

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