Hyundai More Than Doubled Electric Car Sales In August 2021

Hyundai sales in August increased by 14% than last year

Hyundai Motor America had 64,335 cars in the US, which is 14% more than a year ago. However, the Ioniq model sales seem to be going down, with just 1,516 units sold last month. It is almost below average numbers and caused due to supply issues the company has been facing.

Hyundai More Than Doubled Electric Car Sales In August 2021
Image credits- InsideEVs

So far this year, Hyundai Ioniq 5 sales in the US exceeded 17,000 (about 3.7% of the total volume) and the South Korean model remains on track to exceed 25,000 this year. Unfortunately, the official stats do not include the sales results of other all-electric or plug-in hybrid models (Kona Electric, IONIQ Electric, IONIQ Plug-In, Santa Fe PHEV, and Tucson PHEV), as they are counted together with conventional or non-rechargeable hybrids. The hydrogen fuel cell model – Hyundai Nexo – noted 18 units (down 58%) and 318 year-to-date (up 38%). The Hyundai Ioniq 5 is the first model based on the Hyundai Motor Group’s E-GMP platform, used also by the Kia EV6 and Genesis GV60. Next year, it will be joined by the Hyundai Ioniq 6, which recently set an amazing presale record of 37,446 preorders on the first day in South Korea.

Demand and supply issues

The warm welcome of the Ioniq 6 is good news, but at the same time, it might amplify the demand/supply issues. A limited allocation of Ioniq 6 in particular markets (South Korea, Europe, US) would not be a surprise.  According to the website,

“In spite of unfavorable external conditions, including ongoing components shortages and cost fluctuations of raw materials, Hyundai Motor will continue to alleviate business uncertainties by optimizing production and inventory status while diversifying business strategies tailored for each region. ”

Further adds, “Hyundai Motor expects to recover its sales with a strengthened product lineup, including the recently revealed IONIQ 6 and the new model of Grandeur sedan to be unveiled at the end of this year.”

Domestic sales fell 3.5 percent to 49,224 units from 51,034 during the period, while overseas sales climbed 15 percent to 285,570 from 248,970, reports Yonhap news agency. To prop up sales in the second half, Hyundai said it plans to launch the IONIQ 6 all-electric model and other competitive models in global markets. The IONIQ 6 is the second model embedded with Hyundai Motor Group’s own EV-only electric-global modular platform (E-GMP) following the IONIQ 5 launched in April last year. Hyundai plans to introduce the platform-based IONIQ 7 SUV model in 2024. For its all-electric models, Hyundai uses alphanumeric names like its bigger rivals, such as BMW, whose models are named Series No. 1-8.

Meanwhile, Kia sold a total of 239,887 vehicles in August, up from 217,226 units a year ago on robust overseas demand for its SUV models. Kia aims to sell 3.15 million vehicles globally this year.