US: Hyundai Ioniq 5 Sales In January 2023 Increased 56%

The volume remains relatively stable in recent months at around 1,500 units per month.

Hyundai Ioniq 5

Mark Kane

By: Mark Kane

Feb 5, 2023 at 10:58am ET

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Hyundai Motor America reports the best January ever in the United States. Last month, the company sold 52,001 units, which is nearly 9 percent more than a year ago.

Meanwhile, the company's all-electric car sales are growing rapidly. The Hyundai Ioniq 5 noted a 57 percent increase year-over-year to 1,548 (3 percent of the total volume), while the Hyundai Kona Electric sales improved by 334 percent (but the manufacturer does not reveal the exact number - BEV and ICE versions are counted together: 5,826).

It will be very interesting to see what will really happen with the Hyundai Ioniq 5 sales in 2023, but we are cautiously optimistic as the volume currently is stable at roughly 1,500 per month.

Hyundai Ioniq 5 sales in the US – January 2023

For reference, during the 12 months of 2022, the total sales of the Hyundai Ioniq 5 amounted to 22,982, which represents about 3.2 percent of the total volume.

The 2023 model year version of the Hyundai Ioniq 5 is about $1,500 more expensive. The biggest unknown is the $7,500 federal tax credit eligibility under the Inflation Reduction Act of 2022 (IRA) and how much the lack of eligibility might impact Hyundai.

This Spring, the all-new Hyundai Ioniq 6, with an EPA combined range of up to 361 miles (581 km), is expected to be available in dealerships in the US. That should strengthen the company's results.

In the long-term, Hyundai (and the broader Hyundai Motor Group) will produce electric cars locally in the US, so there will be no issue of lack of eligibility for local EV incentives.

Gallery: 2022 Hyundai Ioniq 5 (US)

2022 Hyundai Ioniq 5

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Unfortunately, the official stats do not include the sales results of other all-electric or plug-in hybrid models (Kona Electric, Ioniq Electric, Ioniq Plug-In, Santa Fe PHEV and Tucson PHEV), as they are counted together with conventional or non-rechargeable hybrids.

The hydrogen fuel cell model - Hyundai Nexo - noted just 16 units in January (down 43%). In 2022 Hyundai sold 408 units (down 5%). There is not much progress in the FCEV segment in general.

More about Hyundai

Hyundai Ioniq 6 Receives Impressive EPA Range Ratings

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