Kia's Global EV Retail Sales Hit A New Record In Q2 2024
The momentum remains strong ahead of the Kia EV3 launch.
Kia reports that its global vehicle sales in June decreased by almost 4% year-over-year to 267,536, taking the H1 2024 result down by 1.4% to 1.55 million units. Meanwhile, Kia does pretty well in the EV segment.
According to Kia, its retail all-electric car sales amounted to 17,603 units in June, or 7% of the brand's total volume. This is up 49% from a year ago (estimated since not all data for 2023 is available).
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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. The company also sells the Niro EV, Soul EV, Bingo EV and Ray EV (the last two are sold only in South Korea).
The retail sales include the EV5, EV6, EV9, Niro EV, Niro Plus EV, Soul EV, and the Korea-only Ray EV and Bingo EV. Kia reiterated that it 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 just 6,000 units, down 43% year-over-year. This includes EV3 (initial production), EV6, and EV9 production in South Korea, and EV5 in China. We guess that this E-GMP slowdown to the lowest level since mid-2022 is only temporary.
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, the Kia EV6, recently noted its fifth year-over-year wholesale sales decline. However, considering an updated version is coming, things should improve in the future.
Kia wholesale E-GMP BEV sales last month (YOY change):
- EV3: 20 (new)
- EV5: 881 (new)
- EV6: 3,481 (down 62%)
- EV9: 1,597 (up 19%)
- E-GMP BEVs: 5,979 (down 43%)
Kia Global EV Retail Sales – June 2024
In the second quarter of 2024, Kia's retail EV sales reached a new record of 54,150.
Kia's retail EV sales exceeded 98,000 in the first half of the year. Meanwhile, the wholesale shipments of E-GMP-based models exceeded 61,000, up 8% year-over-year.
Kia wholesale E-GMP BEV sales year-to-date (YOY change):
- EV3: 29 (new)
- EV5: 5,046 (new)
- EV6: 38,597 (down 30%)
- EV9: 17,498 (up 1,174%)
- E-GMP BEVs: 61,170 (up 8%)
For reference, in 2023, Kia wholesale shipments of E-GMP-based electric cars amounted to 132,711, 59% more than in 2022.
In the U.S., Kia more than doubled its all-electric car sales in June and in Q2 2024.
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