It’s interesting to see how EVs and hybrids played a role in Hyundai and Kia’s sales performance last month. I wanted to share some thoughts on whether the growth of electric vehicles and hybrids has truly impacted their overall sales.
Kia US sales YTD, sorted most-to-least, active models only:
| Model | YTD 2024 |
|---|---|
| Sportage | 146,490 |
| K4/Forte | 127,867 |
| Telluride | 103,016 |
| Sorento | 85,722 |
| Seltos | 56,221 |
| Soul | 48,747 |
| Carnival | 44,561 |
| K5 | 40,672 |
| Niro | 28,302 |
| EV9 | 20,066 |
| EV6 | 19,604 |
Can’t stress enough how little the EV6/EV9 have actually ‘helped’ Kia’s North American sales this year. The Carnival sold twice as many units as EV6 and EV9. The narrative is one thing, reality is another. Hopefully they can scale things up a bit at West Point next year, because this year was not it.
@Remy
The Niro is also sold as an EV and Hybrid option. The Sorrento and Sportage have Hybrid options. The article isn’t wrong when you consider it also says Hybrids.
@Remy
The sales went to EV9.
Also Ioniq 5 sales rose over 50% this year:
Also Ioniq 5 sales rose over 50% this year:
Also Ioniq 5 sales rose over 50% this year
That’s great, but Hyundai isn’t Kia.
Hyundai still has the same problem, though:
| Model | YTD 2024 |
|---|---|
| Tucson | 185,954 |
| Elantra | 125,113 |
| Santa Fe | 105,701 |
| Palisade | 99,757 |
| Kona | 76,326 |
| Sonata | 61,701 |
| IONIQ 5 | 39,805 |
| Santa Cruz | 29,991 |
| Venue | 22,808 |
| IONIQ 6 | 11,055 |
The I6 is the worst-performing model in the entire Hyundai lineup by a long shot. The I5 does fare better — and 39k is a respectable number — but it’s still very far down the list. Only the Santa Cruz (a derivative of the Tuscon) and the Venue (a low-cost throwaway model meant mainly for developing countries) do worse.
It’s puzzling because the I5 is so good, some of this is certainly attributable to the increasingly complex tariff and incentive environment, no doubt a lot of this gets better as NACS happens and as CARB ACC2 kicks in — but Hyundai still is diversifying their investment in HMGMA to include EREVs for a reason. The numbers aren’t as healthy as everyone would like them to be just yet.
@Remy
It very specifically says Kia and Hyundai in the title. It also includes hybrid and PHEV which are not broken down in your list at all.
Sidney said:
@Remy
It very specifically says Kia and Hyundai in the title. It also includes hybrid and PHEV which are not broken down in your list at all.
You’re not going to get me disagreeing with you that hybrids are pulling a lot of the weight for electrification right now, I get people foaming at the mouth for me saying that here on a weekly basis.
Hybrids and PHEVs are generally in a good spot. These models are low capex, and generally good contributors to the bottom line. For the most part, they are produced on the same lines as combustion vehicles with very few supplier changes. It’s why Toyota is doing so well financially right now, and why Kia and Hyundai have both already expressed the intent to double down — most automakers have. Hybrids aren’t an issue for OEMs. They’re an easy win.
The issue are the BEVs right now — the EV6 and EV9, and on Hyundai’s side, the Ioniq 6 and (to a lesser extent, as discussed) Ioniq 5. These models will eventually pull weight for the company. They have to. But headlines like this one are just an attempt to tickle the taints of the “what demand problem??” crowd — they are clickbaity dopamine hits handwashing over the reality that EVs remain insignificant contributors to bottom lines of OEMs in the USA.
It will change. But not yet.
@Remy
Dude… Yeah, EVs only are ~9% of the US vehicle market right now. We know.
But this is an EV forum and the growth of their EV sales is very encouraging.
Ira said:
@Remy
Dude… Yeah, EVs only are ~9% of the US vehicle market right now. We know.
But this is an EV forum and the growth of their EV sales is very encouraging.
EVs are going to play a huge role in the future, but that doesn’t change market realities - it’s pretty important to acknowledge that EVs aren’t pulling anywhere near as much weight as was expected, since it directly impacts strategies and expectations for coming years.
It’s impossible to really champion EVs without a broader understanding of the automotive market - the context of where their EV models sit amongst the rest of their range is important, particularly considering there were a lot of voices insisting no-one should be selling hybrids at this point - clearly based on their volume of pure ICE sales, that approach is doing damage to emissions reduction now, and their reliance on market distortions to drive their EV program is proving to be a fragile strategy.
@Remy
Tuscon is an amazing car and relatively affordable. Ioniq 5 costs almost twice as much in some trims. I say this as someone who has owned both.
@Remy
This year was never supposed to be it. It was always 2025 right up until Nov 8th. HMG needs to figure out their ICCU and charge port issues.
2025 is make or break time. USA finally decided to ship all EVs with the same charge port and Tesla chargers are more open to more EVs. Low priced grocery getters might be available: Tesla Model 2, GM Bolt (again), Geely/Volvo EX30 (trying again), HMG EV3.
@Remy
Always with the spin lol. Their EV sales are increasing year over year with no reason to think that will change. You’re just observing the growth in real time. Did you honestly think the EVs would just instantly rise to the top of the…