More Than 2,500 Hyundai IONIQ Electrics Already Sold In South Korea

7 months ago by Mark Kane 30

Hyundai IONIQ Electric

Hyundai IONIQ Electric

The Hyundai IONIQ Electric has given the South Korean plug-in market a huge boost, which last month set a new record of more than 1,300 units sold (estimated), which is twice that of a year ago.

Plug-in car sales in South Korea - November 2016 (source: EV Sales Blog)

Plug-in car sales in South Korea – November 2016 (source: EV Sales Blog)

Market share now exceeds 0.3% (which is pretty abysmal relatively speaking).

The Hyundai IONIQ Electric not only holds 81% of total sales (with 1,085 sold), but also doesn’t show any mercy for its sister-hybrid version, outselling it 3-to-1.

So far this year, nearly 4,500 plug-in cars hasve been sold in South Korea, while the Hyundai IONIQ Electric is responsible for more than 57% of the total (@ 2,565 moved).

Some earlier reports indicated that Hyundai would like to sell up to 4,800 IONIQ Electric this year, and that is still technically possible with final December numbers yet to come, but it appears that some plant-level hiccups this Fall (that also saw the all-electric Hyundai’s introduction in the US delayed until Q1) will have the automaker coming up a bit short.

We believe the South Korean market will grow even more significantly with the introduction of the plug-in hybrid version of the IONIQ in the Summer.

source: EV Sales Blog

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30 responses to "More Than 2,500 Hyundai IONIQ Electrics Already Sold In South Korea"

  1. David Murray says:

    I didn’t realize General Motors was selling the Chevrolet Volt in South Korea. That’s actually more interesting to me than the main part of this story.

    1. JyBicycleOrTesla says:

      The bolt EV will be sold in Korea next quarter.

      1. Alaa says:

        Should they not satisfy all the sates in the US first?

        1. mr. M says:

          the abismal demand of 50/a for south korea can be satisfied regardless of demand in USA.

          1. wavelet says:

            Not necessarily.

            There are some pretty large fixed costs involved in selling a car model in a country / legal jurisdiction — homologation, which can get into 7 figures for a model, training dealers on service, setting up a parts warehouse etc.

            I think the US has relaxed regs on very small manufacturers / custom vehicles, but most countries don’t.

        2. JyBicycleOrTesla says:

          Limiting yourself to domestic market is stupid when there are opportunities for growth outside the United States.

          GM wants to grab the Korean market before Tesla takes control. After all, GM Korea is the third leading manufacturer in Korea, at 9.7%.

          The Bolt EV has been a marketing dream come true for GM.

          1. Bert Kanne says:

            Tesla is a luxury, status electric only vehicle mfg. They are popular in certain US markets simply because they are considered a tech symbol with no meaningful competition. The company continues to loose billions of dollars. Don’t expect them to succeed in South Korea.

            1. Skryll says:

              maybe you should test drive one before making baseless statements like that.

              1. CLIVE says:

                Test driving a car does not fixed a baseless mindset. Baseless stories.

            2. krona2k says:

              As has been pointed out countless times they LOSE money because they choose to, not because they are selling their products below cost.

              They have one of the best margins in the industry. The point is that getting to mass production of the Model 3 is costing a lot of money.

              Do you really think the stock price would be where it is now if there was no visible path to profitability?

              1. SJC says:

                In the beginning Amazon turned no profit but investors where bidding up the stock. The market is not always rational, it involves people.

  2. Mikael says:

    Remember that those 0,3% are for the full year, with barely anything sold for the first 8 months of the year.

    The question is rather if they can keep up those sales, because then South Korea will be hitting 1% soon.

  3. bennyd says:

    The last few months have been waiting eagerly for the Bolt. After being rear ended recently, opened my eyes to wanting a larger sedan. The Ioniq has satisfied that concern. Look forward to 2017 here in Northern CA!

  4. R.S says:

    Nice job Hyundai, but only possible since there isn’t really lots of competition, Koreans mostly buy Korean vehicles, regardless of powertrain.

    By the way, is the Spark EV now globally retired, or was it just a bad month?

  5. Alain says:

    They have not sold That much hydrogen trucks, they must happy there nothing getting in thé electric game too late or should i saying right on time.

  6. JyBicycleOrTesla says:

    I believe most of the Ioniq BEV sales came from Lotte rent a car.

  7. SparkEV says:

    WTF? SparkEV outsold Leaf, Volt, even Tesla? 🙂 Too bad there’s no more. That’s probably why it shows 0 for Nov sales.

    Come 2017 and you want to drive IONIQ for free (only in Santa Monica CA for now), check out waivecar.com. They now have SparkEV for free for 2 hours, and they’ll add IONIQ when they become available.

    1. speculawyer says:

      Well, it is pretty clear that Korea has a nationalistic purchasing attitude.

    2. offib says:

      Well the SparkEV or Spark for that matter used to be the Daewoo Matiz – that’s where the car’s from. speculawyer says it as it is, the Koreans have a very protectionist attitude over their products.

      1. SparkEV says:

        If that’s true, why did Koreans buy more BMW i3 than SparkEV? In fact, they bought more Leaf than SparkEV in 2015. It’s not nationalistic anything; it’s a case of people discovering how awesome SparkEV is (was).

        1. Jay Cole says:

          The Spark EV was originally designed as a captive import for the US/built in South Korea (Changwon Assembly/GM Korea), but then later was made available in its “home” market in SK.

          No sales were logged in November/recently as the line was shuttered in August, with the last run shipped to the US (pretty sure there is no inventory/was an ‘order’ car domestically).

          1. SparkEV says:

            Korean SparkEV is different than US version. They have bigger, rounder side mirrors and comes with rear view camera just to name couple of differences. Only example I’ve seen in N.A. of such car is older Canadian fleet model from 2014. Korean version is definitely not what they sell in US.

            1. Jay Cole says:

              Some different features, but same line. Production for US (and other regions) was run in “batches” to a pre-set amount, not as an ongoing product as the volumes did not support it. As I understand it, they churned out a whack for the US at the end, then took it offline.

              1. SparkEV says:

                Same line is true, but Korean version of SparkEV is not some left-over they throw out the door. They had to make them for Korean market, and most features are better than US version. That’s one reason why it cost more in Korea than US.

                1. Tim Andrews says:

                  This is an Ioniq article. Enough about the Spark EV. There’s a new sheriff in town.

        2. BMWi3 says:

          They bought more i3s because the i3 is so much better than the SparkEV. They really wanted to stay faithful to Korean products, but the i3 is just like kind of the ultimate driving EV.

          1. SparkEV says:

            Of course i3 is better at far higher cost. According to some Koreans, they consider brand-name far more important than US, so BMW badge is probably what did it, not because it’s more value. SparkEV gives far more bang for the buck than i3. See here.

            http://sparkev.blogspot.com/2015/09/ev-ranking.html

      2. Viking79 says:

        It is true the government protected S Korean manfuacturers in a Trump like way up until a few years ago, they recently started free trade with US an EU and a lot more imports a going in.

        However, GM is a essentially a domestic company to S Korea. They are only behind Kia/Hyundai for market share there as it is their hub for that part of the world. The Bolt EV will likely sell very well there.

  8. JyBicycleOrTesla says:

    Jay, any news on the Ioniq unlimited.

    Why is Hyundai so stupid and not announce the pricing? I’m stuck in volt hell until the unlimited pricing is announced.

  9. wavelet says:

    Pretty impressive showing. So far, the reviews for the car also seem very positive… I’m hoping Hyundai wants to (and has the production capacity / battery supply) to sell many of them.
    Also, that the 200mi version comes out sooner rather than later… It should be at the lower end price-wise of that segment.