Kia reports that its global vehicle sales in May decreased by 2.1% year-over-year to 264,313. However, the company's all-electric car sales surged to a new record.

According to Kia, its retail all-electric car sales amounted to 19,407 units in May. This is up 93% from a year ago (estimated, since not all data for 2023 is available). The share of EVs out of the brand's total volume reached 7.5%.

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Kia EV lineup is expanding

Currently, Kia offers three E-GMP-based models (EV5, EV6 and EV9), while two more (EV3 and EV4) are just around the corner. On top of that, the company also sells Niro EV, Soul EV, Bingo EV and Ray EV (the two last ones in South Korea only).

The retail sales include EV5, EV6, EV9, Niro EV, Niro Plus EV, Soul EV, and the Korea-only Ray EV and Bingo EV. Kia expects to continue building EV sales momentum with the launch of the all-new EV3 model in the second half of 2024.

At the same time, wholesale shipments, which are closely related to production, of Kia's E-GMP-based models amounted to almost 12,500, up 29% year-over-year. This includes EV3, EV6 and EV9 production in South Korea and EV5 in China.

Kia reports wholesale sales on the manufacturer level or plant sales—unless otherwise specified, the numbers are unaudited and on a preliminary basis.

The company's best-selling EV model is the Kia EV6, with 6,081 wholesale units, down 37% year-over-year. We assume the EV6's results will improve once the updated version hits the market.

Meanwhile, the EV5 set a new monthly wholesale record, while another few initial units of the EV3 left the factory.

Kia wholesale E-GMP BEV sales last month (YOY change):

  • EV3: 4 (new)
  • EV5: 1,732 (new)
  • EV6: 6,081 (down 37%)
  • EV9: 2,760 (up from 11)
  • E-GMP BEVs: 10,577 (up 9%)

Kia Global EV Retail Sales – May 2024

So far this year, Kia's retail EV sales exceeded 80,000. The growth rate is estimated at up to 75%. Meanwhile, the wholesale shipments of E-GMP-based models exceeded 55,000.

Kia wholesale E-GMP BEV sales year-to-date (YOY change):

  • EV3: 9 (new)
  • EV5: 4,165 (new)
  • EV6: 35,116 (down 24%)
  • EV9: 15,901 (up from 37)
  • E-GMP BEVs: 55,191 (up 20%)

For reference, in 2023, Kia wholesale shipments of E-GMP-based electric cars amounted to 132,711, up 59% year-over-year.

The second half of the year should be positive for Kia, especially if the EV3 launch goes smoothly.

Kia is also doing pretty well in the U.S., where its all-electric car sales doubled to a new record in May.

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