We did not expect it. Shouldn't the EV sales actually grow, especially thanks to demand in Europe?
After a strong June and July, Hyundai has surprised in August with just 4,106 plug-in electric car sales (down nearly 30% year-over-year).
Not only plug-ins were selling worse. The overall Hyundai sales went down by 20.7% to 106,232, but because the drop was lower, the plug-in share is lower than a year ago (3.9% vs 4.4%).
We are not sure why Hyundai is going backward, but hopefully, it will gradually return to growth in the fall, especially if the company will introduce the EV version of the new Kona.
Hyundai plug-in electric car sales – August 2020
Sales by powertrain type:
The main focus is on BEVs:
- BEVs: 3,580 (down 26%)
- PHEVs: 526 (down 46%)
- Total plug-ins: 4,106 (down 30%)
- FCVs: 681 (up 138%)
The Kona Electric remains the dominant model in the lineup:
- Hyundai Kona Electric – 2,452 and 35,628 YTD
- Hyundai IONIQ Electric – 1,128 and 10,314 YTD
- Hyundai IONIQ Plug-In – 526 and 5,875 YTD
- Total: 4,106 and 51,817 YTD
The hydrogen fuel-cell model — NEXO — noted 681 sales (4,762 YTD), mostly in South Korea (675 and 3,987 YTD).