Hyundai Motor Company (Hyundai and Genesis brands) reports that its global vehicle sales in May amounted to 349,194 units, which is 7.8 percent more than a year ago. During the first five months of 2023, the company sold 1,705,878 vehicles (up 11 percent year-over-year).

Plug-in electric car sales - specifically all-electric car sales - continued to increase noticeably faster.

According to Hyundai Motor Company, last month, the combined wholesale shipments (closely related to production) of Hyundai and Genesis plug-in cars, amounted to *28,321 (up 25 percent year-over-year). We estimate that it's around 8.1 percent of the total volume.

*Retail sales in South Korea plus wholesale sales (manufacturer level) outside South Korea, unaudited and on a preliminary basis.

**The Hyundai sales report includes sales numbers from the plants in South Korea, Europe (Kona Electric and Tucson PHEV), Indonesia (Ioniq 5), and plants in China and India (both small numbers), as well as in the United States.

The data indicates that all-electric car volume increased by 31 percent year-over-year to 23,415.

Hyundai Motor notes that BEV sales (deliveries, as we understand) amounted to around 23,000 units, so were very similar to the wholesale shipments.

"Hyundai Motor maintained its electric vehicle (EV) sales momentum by selling around 23,000 units around the globe in May. Hyundai’s dedicated battery electric IONIQ models, including IONIQ 5 and IONIQ 6, accounted for nearly 70 percent of its total EV sales."

Wholesale shipments by powertrain type:

  • BEVs: 23,415 (up 31%) and 6.7% share
  • PHEVs: 4,906 (up 2%) and 1.4% share
  • Total plug-ins: 28,321 (up 25%) and 8.1% share
  • FCVs: 425 (down 68%) and 0.1% share

So far this year, the plug-in electric car wholesale shipments exceeded 141,000, which is about 8 percent of the total volume.

Wholesale shipments by powertrain type year-to-date:

  • BEVs: 119,099 (up 72%) and 7.0% share
  • PHEVs: 22,685 (up 13%) and 1.3% share
  • Total plug-ins: 141,784 (up 59%) and 8.3% share
  • FCVs: 2,830 (down 31%) and 0.2% share

For reference, in 2022 Hyundai Motor Company sold more than 240,000 plug-in electric cars (up 45 percent year-over-year), including nearly 195,000 all-electric (up 56 percent).

Hyundai brand

The Hyundai brand, which is responsible for the majority of the company's plug-in car sales, noted a 29 percent year-over-year increase in wholesale shipments, to over 26,000.

Hyundai wholesale shipments by powertrain type:

  • BEVs: 21,461 (up 37%)
  • PHEVs: 4,906 (up 2%)
  • Total plug-ins: 26,367 (up 29%)
  • FCVs: 425 (down 68%)

Hyundai plug-in electric car sales – May 2023

Wholesale shipments by powertrain type YTD:

  • BEVs: 109,182 (up 74%)
  • PHEVs: 22,685 (up 13%)
  • Total plug-ins: 131,867 (up 59%)
  • FCVs: 2,830 (down 31%)

For reference, in 2022, Hyundai's plug-in electric car wholesale shipments amounted to over 221,000, including over 175,000 all-electric cars.

Model results

Hyundai reports that the Hyundai Ioniq 5 and Hyundai Ioniq 6 models accounted for nearly 70 percent of the total all-electric car sales last month.

The Hyundai Ioniq 5 remains the top model in Hyundai's EV lineup, and in May reached its new monthly wholesale record of 11,772 units thanks to the increased production in Indonesia (the second production site) and a small contribution from India (the third production site).

The Hyundai Ioniq 6 noted over 4,800 units, which is comparable to the Hyundai Kona Electric.

In 2023, the lineup will be joined by the Ioniq 5 N - "the company’s first high-performance EV, with details to be unveiled in the coming months." In the pipeline is also the all-new Kona, which will have an all-electric version.

Top models (wholesale shipments) last month (and YTD):

The hydrogen fuel cell model — Hyundai NEXO — noted 425 units last month (and 2,830 YTD).

Genesis brand

In the case of Genesis, the brand's wholesale shipments of all-electric cars (GV60, Electrified GV70, and Electrified G80) amounted to 1,954 (down 10 percent year-over-year). The year-to-date volume is close to 10,000 (50 percent higher than in 2022 at this point).

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