Hyundai Motor America reports a difficult January in the U.S., mentioning "economic challenges and interest rates making it a tough retail environment." The company's vehicle sales amounted to 47,543 (down 8.6% year-over-year).

However, at the same time, Hyundai sees bright spots in the EV segment with substantial year-over-year growth in plug-in electric car sales.

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Hyundai EV sales surges

Hyundai is quickly increasing sales of its plug-in electric cars in the U.S., becoming one of the top traditional brands in the segment. Soon, Hyundai will be producing all-electric cars locally in the U.S. too.

In January, Hyundai plug-in electric car sales increased by 77% year-over-year, although the company does not reveal the precise number. The brand's all-electric car sales increased by 42% year-over-year, the company says, also without providing the exact level.

What we do know is that sales of the Hyundai E-GMP-based all-electric cars—Ioniq 5 and Ioniq 6—amounted to 2,225 (up 44% year-over-year). E-GMP BEVs represent 4.7% of Hyundai's total volume (compared to 3.0% a year ago).

On top of that comes the Hyundai Kona Electric, for which numbers are not reported (it's counted together with the internal combustion Kona).

Hyundai BEV sales last month (YOY change):

  • Hyundai Ioniq 5: 1,465 (down 5%)
  • Hyundai Ioniq 6: 760 (new)
  • Hyundai Kona Electric: N/A
  • Total Ioniq family: 2,225 (up 44%) and 4.7% share

Hyundai Ioniq 5/Ioniq 6 sales in the U.S. – January 2024

For reference, during the 12 months of 2023, the total sales of the Hyundai Ioniq 5/Ioniq 6 amounted to 46,917, representing about 5.9% of the total volume.

Hyundai BEV sales in 2023 (YOY change):

  • Hyundai Ioniq 5: 33,918 (up 48%)
  • Hyundai Ioniq 6: 12,999 (new)
  • Hyundai Kona Electric: N/A
  • Total Ioniq family: 46,917 (up 104%) and 5.9% share

We assume that Hyundai will increase its all-electric and plug-in hybrid car sales in 2024 to new record levels.

Unfortunately, the official stats do not include the sales results of other plug-in models (like the 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 23 units sold last month (up 44% year-over-year). In 2023, 241 Nexo have been delivered, which was 41% less than in 2022.

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