US: Hyundai BEV Sales Surged In May 2023

Hyundai Motor America reports 70,001 vehicle sales in the United States in May, which is nearly 18 percent more than a year ago. The year-to-date result is also quite positive at 325,262 (up 16 percent year-over-year).

One of the most interesting things is that the South Korean brand is also quickly increasing sales of all-electric cars, based on the E-GMP platform (Ioniq 5 crossover/SUV and Ioniq 6 sedan).

In May, Hyundai BEV sales (excluding the Kona Electric, for which data remain unavailable), amounted to 3,417, which is a new monthly record in the US. That's about 78 percent more than a year ago and nearly 5 percent of the brand's total volume.

The results were boosted by the all-new Hyundai Ioniq 6, which noted a new record of 971 units sold in its third month on the market. However, the Hyundai Ioniq 5 also does well, as sales improved 28 percent year-over-year to 2,446 (despite the lack of eligibility for the $7,500 federal tax credit for new purchases).

Hyundai BEV sales last month:

• Hyundai Ioniq 5: 2,446 (up 28% year-over-year)
• Hyundai Ioniq 6: 971 (new)
• Hyundai Kona Electric: N/A
• Total Ioniq family: 3,417 (up 78% year-over-year) and 4.9 percent share

Hyundai Ioniq 5/Ioniq 6 sales in the US – May 2023

So far this year, more than 12,000 Hyundai Ioniq 5/Ioniq 6 were sold in the US (up 16 percent year-over-year).

Hyundai BEV sales YTD in 2023:

• Hyundai Ioniq 5: 10,505 (down 3% year-over-year)
• Hyundai Ioniq 6: 2,083 (new)
• Hyundai Kona Electric: N/A
• Total Ioniq family: 12,588 (up 16% year-over-year) and 3.9% share

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

Unfortunately, the official stats do not include the sales results of other all-electric or plug-in hybrid models, as they are counted together with conventional or non-rechargeable hybrids.

The hydrogen fuel cell model - Hyundai Nexo - noted 16 units last month (up 78 percent). So far this year, 97 have been delivered, which is 56 percent less than a year ago.

This year, Hyundai is expected to be affected by the Inflation Reduction Act of 2022 (IRA), which removed the $7,500 federal tax credit for imported BEVs, but that's a temporary issue considering the already announced investments in local BEV production.

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