Hyundai’s Electric Vehicles Drive Record Sales in U.S. Market

March performance drives record Q1 sales

Hyundai Motor achieved a monthly sales record in the U.S. market last month. This achievement results from focusing on securing local demand for electric vehicles, primarily with brand-specific electric vehicle models like the IONIQ 5. Thanks to last month’s performance, they also set a new record for the highest sales in the first quarter.

Hyundai Motor America (HMA) announced on the 2nd that it sold 76,920 units in the U.S. market last month. This figure is a 2% increase compared to the previous year (75,404 units) and is the highest monthly sales volume. They particularly stood out in the eco-friendly car market, selling 11,485 units, a two-digit growth of 35% compared to the same month of the previous year. Electric vehicle sales soared 100% compared to the previous year.

Eco-friendly cars were undoubtedly popular among the local sales models. The Tucson Plug-in Hybrid (PHEV) saw a 62% increase in sales compared to the previous year, and the IONIQ 5 and Tucson Hybrid (HEV) sales rose by 58% and 48%, respectively. Among the cars with an internal combustion engine, the Palisade (+58%) was particularly successful.

Thanks to its performance in March, HMA also set a new record for the highest sales in a single quarter. They sold 184,804 units, a 0.2% growth compared to the same period of the previous year (184,449 units). Similarly, electric models like the IONIQ 5 played a significant role. During the same period, electric vehicle sales surged by a two-digit figure of 62% compared to the previous year.

Hyundai plans to continue to increase its sales by focusing on its Sport Utility Vehicle (SUV) models and eco-friendly cars.

Randy Parker, CEO of HMA, said, “We achieved great performance in the first quarter thanks to the efforts of our local flagship models like the Palisade, Kona, and IONIQ5.” He added, “While we continue to produce excellent products, the local demand for electric vehicles is still high.”

Meanwhile, last year, Hyundai sold 801,195 units in the U.S. market. This two-digit growth of 11% compared to the previous year is the highest annual sales ever. The market share recorded 10.9%. They also achieved a 1% growth in retail sales compared to the previous year, setting a new retail sales record for the third consecutive year.