AUTO

Hyundai EV Sales Surge in January Amidst Economic Challenges

February 21, 2024

Hyundai electric vehicle (EV) sales surged by an impressive 42%.
Hyundai ranked first in customer loyalty for the 15th consecutive year.
Models like the Santa Fe PHEV and IONIQ EV played a significant role in driving Hyundai’s EV sales growth.

Hyundai Motor America started 2024 with a mixed bag of results, selling a total of 47,543 vehicles in January. While this figure represents a 9% decrease compared to the same period last year, the company’s electric vehicle (EV) lineup experienced a notable uptick, with sales soaring by an impressive 42%. This surge was particularly driven by the popularity of models like the Hyundai Santa Fe PHEV and Hyundai IONIQ 5 and IONIQ 6 EV, indicating a growing demand for electric mobility solutions in the market.

Acknowledging the tough retail environment and economic headwinds faced in January, CEO Randy Parker expressed pride in Hyundai’s resilience and the success of its EVs and plug-in hybrids. “There were bright spots with sales of electric vehicles and plug-in hybrid achieving substantial year-over-year growth, and our all-new Santa Fe starting to arrive at dealerships,” Parker mentions. Despite the challenges, Hyundai’s commitment to innovation and sustainability has propelled the company forward, aligning with broader industry trends towards eco-friendly transportation alternatives.

Amongst the sales figures, Hyundai witnessed remarkable milestones with its Santa Fe PHEV and Tucson PHEV, both setting records with staggering growth rates of 273% and 927%, respectively. Additionally, other models like the Palisade, Kona, and Kona EV also contributed to Hyundai’s positive performance, boasting double-digit sales increases. These achievements underscore the appeal and versatility of Hyundai’s diverse product range, catering to varying consumer preferences and needs.

Beyond sales metrics, Hyundai’s unwavering dedication to customer satisfaction has been recognized yet again, with the company securing the top spot in customer loyalty for the 15th consecutive year. This consistency speaks volumes about Hyundai’s ability to connect with its customer base and deliver products that resonate with their needs and preferences. Additionally, Hyundai’s efforts in the EV space have not gone unnoticed, with accolades like The Car Connection’s “Best Electric Car to Buy” for the Hyundai IONIQ 5, further solidifying the brand’s position as a leader in sustainable mobility solutions.