It is Oct. 1, which implies new automobile gross sales knowledge 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 12 months, Kia’s EVs and PHEVs are up 43% and 11% year-over-year,” the automaker stated in a information launch.
In whole, Kia noticed 56,047 new automobile gross sales in September, down 17% from the earlier 12 months 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 homeowners have gone house in an EV9. (The EV9 went on sale final December, so there isn’t any year-over-year knowledge to match 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 12 months. Nonetheless, with 15,985 gross sales this 12 months, the EV6 and EV9 collectively signify 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 get away the gross sales knowledge for its hybrid fashions, however from this, we are able to 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 shall be open within the coming months to EV6 and EV9 drivers through a North American Charging Normal (NACS) adapter. In case you acquired a kind of vehicles on Sept. 4 or afterward, you get an adapter at no cost. In case you bought one sooner than that, you should purchase an adapter in a while.
Kia added that entry to Tesla’s DC quick chargers is deliberate for January 15, 2025.
Hyundai Nonetheless Sees Robust Demand For Ioniq 5, Hybrids (However Not Ioniq 6)
Hyundai
2025 Hyundai Ioniq 5 N homeowners can get both a complimentary house charger or $450 in ChargePoint credit
It is a comparable story over at Hyundai. The model reported whole September gross sales of 62,491 vehicles, down 9% from the earlier 12 months. Nonetheless, of the vehicles Hyundai managed to promote, folks went onerous for hybrids.
“Hyundai set whole gross sales information in September for Santa Fe HEV (+87%), Tucson HEV (+52%), and Palisade (+9%),” the automaker stated in a press release. “Hybrid automobile whole 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 surprise if some prospects 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 on the spot Supercharger entry.
Even so, gross sales of the Ioniq 5 are up properly year-over-year, presently at 30,318 offered to this point vs. 25,306 the identical time in 2023.
Hyundai
It is a much less rosy story for the Ioniq 6, which, whereas glorious, remains to be a sedan doing battle in an SUV world. Hyundai offered 599 of them in September, down an entire 64% from the identical month final 12 months. Nonetheless, year-to-date Ioniq 6 gross sales are at 9,097 in comparison with 8,318 in the identical interval final 12 months.
So What Does It Imply?
All of those numbers are proof that even Hyundai Motor Group, in addition to it is achieved this 12 months, is not resistant to the twin headwinds of excessive new automobile prices and excessive rates of interest. But it surely exhibits that when People do purchase new vehicles, they’re extra into hybrids and even EVs than ever—as long as they’re outfitted nicely and priced nicely.
2024 Hyundai Ioniq 5 N Assessment
Primarily based on the sheer quantity of emails we get right here at InsideEVs, I do suppose many shoppers are holding out for native Tesla Supercharger entry or a minimum of a NACS adapter. Charging anxiousness could be very actual and something automakers can do to ease it’s going to assist get extra folks into extra EVs and sooner.
The gross sales decline for the Ioniq 6 is a disgrace to see, but it surely’s not stunning. Except for the reasonably priced Elantra and Forte, the 2 manufacturers’ sedan gross sales are by no means a lot to jot down house about both. However the Ioniq 6 is sort of a hidden gem within the EV world with actually excellent vary of as much as 342 miles. You could possibly get a great value on one if you could find a supplier keen to play ball to allow them to filter 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 not too long ago, the EV9 as nicely. Extra are coming; U.S. manufacturing of the EV6 is anticipated as nicely. That ought to qualify these vehicles for a minimum of among the tax credit upon buy, whereas these reductions have been beforehand solely obtainable when leased.
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