It is Oct. 1, which implies new automobile gross sales information from each the previous month and the entire third quarter of 2024 are beginning to trickle in. Proper out of the gate, we’re seeing the ripple results of record-high costs and rates of interest on gross sales, not only for electrical autos however more and more all new vehicles.
However not each automaker is feeling that sting equally. Hyundai and Kia are each reporting large U.S. gross sales the place EVs and hybrids are involved.
Kia’s Hybrids, EVs Add Up To Data
We’ll begin with Kia as a result of it is reporting record-setting gross sales of its electrified fashions. “Regardless of fewer promoting days in comparison with final yr, Kia’s EVs and PHEVs are up 43% and 11% year-over-year,” the automaker mentioned in a information launch.
In complete, Kia noticed 56,047 new car gross sales in September, down 17% from the earlier yr because the auto trade offers with an affordability crunch.
However on the battery-powered entrance, the Kia EV9 nonetheless noticed its third-best gross sales month ever in September with 2,096 fashions moved. Yr-to-date, 15,970 American house owners have gone dwelling in an EV9. (The EV9 went on sale final December, so there is not any year-over-year information to check it to.)
InsideEVs
The Kia EV6, in the meantime, slowed right down to 1,612 gross sales in September, which is a 23% decline from the earlier yr. Nevertheless, with 15,985 gross sales this yr, the EV6 and EV9 collectively symbolize greater than 30,000 Kia EVs on the highway.
Kia doesn’t separate out gross sales of the Niro EV from its gasoline and hybrid counterparts. It additionally doesn’t escape the gross sales information for its hybrid fashions, however from this, we will presume that the Sportage Hybrid, Sorento Hybrid and Carnival MPV Hybrid are driving a major a part of these fashions’ gross sales as of late.
Kia additionally reaffirmed that Tesla’s Supercharger community can be open within the coming months to EV6 and EV9 drivers by way of a North American Charging Normal (NACS) adapter. Should you obtained a type of vehicles on Sept. 4 or afterward, you get an adapter at no cost. Should you bought one sooner than that, you should buy an adapter afterward.
Kia added that entry to Tesla’s DC quick chargers is deliberate for January 15, 2025.
Hyundai Nonetheless Sees Sturdy Demand For Ioniq 5, Hybrids (However Not Ioniq 6)
Hyundai
2025 Hyundai Ioniq 5 N house owners can get both a complimentary dwelling charger or $450 in ChargePoint credit
It is a comparable story over at Hyundai. The model reported complete September gross sales of 62,491 vehicles, down 9% from the earlier yr. Nonetheless, of the vehicles Hyundai managed to promote, individuals went laborious for hybrids.
“Hyundai set complete gross sales information in September for Santa Fe HEV (+87%), Tucson HEV (+52%), and Palisade (+9%),” the automaker mentioned in a press release. “Hybrid car complete gross sales jumped 36%.”
On the EV entrance, gross sales of the favored Ioniq 5 have been down barely from 2023, coming in at 3,336 models moved to final September’s 3,958 models. I do marvel if some clients are holding out for the up to date 2025 Ioniq 5 to go on sale as a result of that automobile will pack a local NACS plug from the manufacturing facility and immediate Supercharger entry.
Even so, gross sales of the Ioniq 5 are up properly year-over-year, at the moment at 30,318 offered thus far vs. 25,306 the identical time in 2023.
Hyundai
It is a much less rosy story for the Ioniq 6, which, whereas wonderful, remains to be a sedan doing battle in an SUV world. Hyundai offered 599 of them in September, down a complete 64% from the identical month final yr. Nonetheless, year-to-date Ioniq 6 gross sales are at 9,097 in comparison with 8,318 in the identical interval final yr.
So What Does It Imply?
All of those numbers are proof that even Hyundai Motor Group, in addition to it is completed this yr, is not proof against the twin headwinds of excessive new automobile prices and excessive rates of interest. But it surely reveals that when Individuals do purchase new vehicles, they’re extra into hybrids and even EVs than ever—as long as they’re geared up effectively and priced effectively.
2024 Hyundai Ioniq 5 N Overview
Primarily based on the sheer quantity of emails we get right here at InsideEVs, I do assume many shoppers are holding out for native Tesla Supercharger entry or at the least a NACS adapter. Charging nervousness could be very actual and something automakers can do to ease it is going to assist get extra individuals into extra EVs and sooner.
The gross sales decline for the Ioniq 6 is a disgrace to see, however it’s not stunning. Except for the reasonably priced Elantra and Forte, the 2 manufacturers’ sedan gross sales are by no means a lot to write down dwelling about both. However the Ioniq 6 is type of a hidden gem within the EV world with actually excellent vary of as much as 342 miles. You might be able to get a great worth on one if you could find a supplier keen to play ball to allow them to filter out room for extra SUVs.
However some excellent news could also be on the horizon for Hyundai and Kia. Each are ramping up U.S. manufacturing of their EVs, beginning with the 2025 Ioniq 5 and, extra lately, the EV9 as effectively. Extra are coming; U.S. manufacturing of the EV6 is anticipated as effectively. That ought to qualify these vehicles for at the least a number of the tax credit upon buy, whereas these reductions have been beforehand solely accessible when leased.
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