The electric vehicle market in the U.S. has cooled noticeably since federal subsidies ended last September. Without those incentives, EVs suddenly became more expensive, and for many buyers, less attractive. Sales across several electric models have slipped.
But one EV didn’t get the memo.
The Hyundai Ioniq 5 is quietly doing the opposite.
Through the first quarter of 2026, Hyundai sold 9,790 units of the Ioniq 5, a 14 percent increase over the same period last year. It’s not explosive growth, but in today’s environment, any increase in EV sales stands out.
At the same time, Hyundai’s other electric sedan tells a very different story.
Ioniq 5 Rises While Ioniq 6 Struggles
The Hyundai Ioniq 6 saw sales collapse by 75 percent in the first three months of 2026, with just 829 units sold. The sharp drop highlights a growing divide in the EV market. Buyers are leaning toward crossovers and SUVs, while sedan-style EVs are losing ground.
The Ioniq 5 benefits from being in the right segment at the right time. It offers practicality, bold styling, and a strong range, making it easier for buyers to justify even without subsidies.
Hyundai also launched the new Ioniq 9 this year, which posted 1,990 sales in its first quarter. While still early, the larger electric SUV could become an important player for Hyundai’s EV lineup moving forward.
SUVs Continue to Lead Hyundai Sales
Beyond EVs, Hyundai delivered its best first-quarter performance ever. The automaker sold 205,388 vehicles between January and March, up slightly from last year but enough to set a new record.
The Tucson remained Hyundai’s best-selling model, with 55,426 units sold. The Santa Fe followed with 33,343 units, while the Elantra closely trailed at 33,063 units.
The Palisade also saw healthy demand, with sales rising 6 percent. Hyundai sold 27,704 units of the three-row SUV in the first quarter.
Clearly, SUVs remain the backbone of Hyundai’s growth.
Hybrids Are the Real Growth Story
While EVs saw mixed results, hybrids delivered strong momentum. Hyundai reported significant growth in hybrid sales across key models.
The Santa Fe hybrid jumped 47 percent, the Elantra hybrid surged 141 percent, and the Sonata hybrid climbed 107 percent.
These numbers suggest buyers are increasingly choosing hybrids as a practical stepping stone. They offer better fuel efficiency without the charging concerns that still hold some EV buyers back.
A Few Models Lose Ground
Not every model saw growth. Sonata sales dipped 8 percent, while the Santa Cruz dropped sharply by 32 percent. Hyundai is planning to discontinue the Santa Cruz, which likely contributed to the decline.
Elsewhere, the Kona posted a modest 2 percent increase, and the Venue climbed 12 percent, showing continued demand for affordable compact vehicles.
What This Means for Hyundai
Hyundai’s first-quarter results tell a clear story. The EV market may be slowing, but demand hasn’t disappeared. Buyers are simply becoming more selective.
The Ioniq 5’s growth proves that strong, well-positioned EVs can still succeed, even without government incentives. At the same time, hybrids and SUVs continue to drive the bulk of Hyundai’s sales.
If this momentum continues, Hyundai could be one of the few automakers navigating the shifting market with confidence. And for now, the Ioniq 5 is leading that charge.
