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Thursday, January 23, 2025

Hyundai Motor Group Simply Hit A Main EV Gross sales Milestone


Final summer season, as many rivals have been backing off their electrical car plans as gross sales proved to be rising much less rapidly than anticipated, Korea’s Hyundai Motor Group was singing a distinct tune. “We’re gonna maintain our foot on the accelerator” is what Hyundai Motor America CEO Randy Parker instructed me in an interview. Now that 2024’s gross sales information is in, it definitely looks as if that push paid off.

Based on the newest information from Cox Automotive’s Kelly Blue E book, the mixed gross sales of the three Hyundai Motor Group manufacturers—Hyundai, Kia and Genesis—despatched the conglomerate to the coveted no. 2 spot behind Tesla in U.S. EV gross sales in 2024. 

This was a decent gross sales race that we had been following carefully final 12 months, particularly because the race more and more got here all the way down to Basic Motors and the Hyundai group. In the long run, Hyundai’s manufacturers pulled forward with a collective 124,065 absolutely electrical gross sales. That quantity doesn’t depend hybrid or plug-in hybrid gross sales, the place the Korean manufacturers are additionally seeing sturdy progress.



2025 Hyundai Ioniq 5 XRT

Picture by: InsideEVs

By comparability, GM’s manufacturers that promote EVs within the U.S.—Chevrolet, GMC, Cadillac and the BrightDrop van division that simply bought merged into Chevy—moved 114,426 EVs in 2024. As a number of folks identified, had GM continued Chevrolet Bolt EV and EUV manufacturing till the brand new one made its debut this 12 months, it might have most likely far exceeded Hyundai, however that is the sport. 

This additionally made each GM and Hyundai the primary automakers since Tesla to ever promote 100,000 or extra EVs within the U.S. Ford got here awfully shut, with the F-150 Lightning, E-Transit van and Mustang Mach-E netting 97,865 EV gross sales. 

Nonetheless, all of those corporations have been a really distant second, third or fourth to Tesla, which regardless of seeing a decline in gross sales nonetheless ended 2024 with a projected 633,762 EVs offered in America. For Hyundai, the Ioniq 5 led the best way in gross sales, however the Mach-E saved its crown as America’s best-selling non-Tesla EV but once more. If the up to date Telsa Mannequin Y makes its debut right here this 12 months as anticipated, it may change the equation much more. 

As we have famous beforehand, regardless of widespread media reviews of the EV market crashing, 2024 was one other file 12 months for electrical gross sales in America. The issue is that gross sales haven’t taken off as rapidly because the auto trade as soon as projected. Almost all of them nonetheless wrestle with ramping up EV manufacturing, battery prices, unclear points round tariffs and sourcing supplies from China and our still-inadequate charging infrastructure. However EVs stay the fastest-growing new automotive phase and made up 8% of whole new gross sales in 2024; this 12 months, one in 4 new automobiles offered are anticipated to be electrified ultimately, as hybrids or EVs.



Kia EV6 GT

Picture by: InsideEVs

Now, the query is that this: which automaker can preserve this momentum into 2025? As I mentioned above, the up to date Mannequin Y ought to be capable to do what the now-sagging Cybertruck couldn’t, though its reputation might show to be the last word barometer about how folks really feel about Elon Musk nowadays. GM has a number of new electrical Cadillac fashions set to debut. And if it may possibly make good on releasing the 2026 Chevy Bolt by the tip of this 12 months, and it is priced effectively, it may critically transfer the needle in GM’s favor.

However Hyundai’s going greater and bolder in 2025 as effectively. There’s the brand new 2025 Hyundai Ioniq 5, which is supplied with a Tesla-style plug and now even comes with a ChargePoint charger customary. It is constructed within the U.S. as effectively, and whereas it doesn’t but qualify for EV tax credit, it’s anticipated to—offered that system survives the incoming Trump administration. There’s additionally the U.S.-built Ioniq 9 three-row SUV and up to date Kia EV6, each additionally sporting Tesla-style plugs, and a few up to date new Genesis EVs as effectively. The Kia EV3 remains to be considerably TBD on its U.S. launch date, sadly, but when that is priced effectively right here it too needs to be a giant driver of quantity. 



2026 Hyundai Ioniq 9

Picture by: InsideEVs

Lastly, it is value noting that Hyundai’s manufacturers moved numerous electrical automobiles with extraordinarily beneficiant lease offers. Whether or not it may possibly maintain these going, particularly if tax credit go away, stays to be seen. However both approach, 2025 kicks off with Hyundai because the non-Tesla automaker to beat in 2025. We’ll see who’s bought what it takes because the 12 months goes on.

Contact the writer: [email protected]

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