It is Oct. 1, which implies new automotive 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 automobiles however more and more all new automobiles.
However not each automaker is feeling that sting equally. Hyundai and Kia are each reporting huge U.S. gross sales the place EVs and hybrids are involved.
Kia’s Hybrids, EVs Add Up To Information
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 car 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. 12 months-to-date, 15,970 American house owners have gone house in an EV9. (The EV9 went on sale final December, so there isn’t any year-over-year information to match it to.)
InsideEVs
The Kia EV6, in the meantime, slowed all the way down to 1,612 gross sales in September, which is a 23% decline from the earlier 12 months. Nevertheless, with 15,985 gross sales this 12 months, the EV6 and EV9 collectively characterize greater than 30,000 Kia EVs on the street.
Kia doesn’t separate out gross sales of the Niro EV from its fuel and hybrid counterparts. It additionally doesn’t get away 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 might be open within the coming months to EV6 and EV9 drivers by way of a North American Charging Normal (NACS) adapter. When you obtained a kind of automobiles on Sept. 4 or afterward, you get an adapter totally free. When you bought one sooner than that, you should purchase 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 house charger or $450 in ChargePoint credit
It is a related story over at Hyundai. The model reported whole September gross sales of 62,491 automobiles, down 9% from the earlier 12 months. Nonetheless, of the automobiles Hyundai managed to promote, individuals went exhausting 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 car whole gross sales jumped 36%.”
On the EV entrance, gross sales of the favored Ioniq 5 had been down barely from 2023, coming in at 3,336 items moved to final September’s 3,958 items. 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 automotive will pack a local NACS plug from the manufacturing facility and prompt Supercharger entry.
Even so, gross sales of the Ioniq 5 are up properly year-over-year, at the moment at 30,318 offered to date 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 a complete 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 accomplished this 12 months, is not resistant to the twin headwinds of excessive new automotive prices and excessive rates of interest. However it reveals that when People do purchase new automobiles, they’re extra into hybrids and even EVs than ever—as long as they’re geared up nicely and priced nicely.
2024 Hyundai Ioniq 5 N Evaluate
Primarily based on the sheer quantity of emails we get right here at InsideEVs, I do assume many purchasers are holding out for native Tesla Supercharger entry or not less than a NACS adapter. Charging anxiousness could be very actual and something automakers can do to ease it would assist get extra individuals into extra EVs and quicker.
The gross sales decline for the Ioniq 6 is a disgrace to see, but it surely’s not shocking. Except for the reasonably priced Elantra and Forte, the 2 manufacturers’ sedan gross sales are by no means a lot to write down house about both. However the Ioniq 6 is form of a hidden gem within the EV world with actually excellent vary of as much as 342 miles. You might be able to get worth on one if you could find a supplier prepared 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 lately, the EV9 as nicely. Extra are coming; U.S. manufacturing of the EV6 is predicted as nicely. That ought to qualify these automobiles for not less than a few of the tax credit upon buy, whereas these reductions had been beforehand solely out there when leased.
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