Hyundai Motor Company (Hyundai and Genesis brands) reports that its global vehicle sales in August amounted to 347,377 units, which is 3.2 percent more than a year ago. During the first eight months of 2023, the company sold 2,765,554 vehicles (up 8.6 percent year-over-year).
The South Korean manufacturer announced that its all-electric vehicle sales during the month exceeded 18,000 units, out of which around 70 percent (around 12,600 units) fall on the Ioniq 5 and Ioniq 6 models.
Last month, the combined wholesale shipments (closely related to production) of Hyundai and Genesis plug-in cars, amounted to *21,547 (up 19 percent year-over-year). We estimate that it is around 6.2 percent of the total volume (compared to 5.8 percent a year ago).
*Retail sales in South Korea plus wholesale sales (manufacturer level) outside South Korea, unaudited and on a preliminary basis.
**The Hyundai sales report includes sales numbers from the plants in South Korea, Europe (Kona Electric and Tucson PHEV), Indonesia (Ioniq 5), and plants in China and India (both small numbers), as well as in the United States.
The data indicates that all-electric car volume increased by 23 percent year-over-year to 17,460. Plug-in hybrid car volume improved by five percent year-over-year to 4,087.
Overall, it was one of the slowest months so far this year, but there is potential for improvements by the end of the year.
An interesting thing is the decreased production and sales of the hydrogen fuel cell Nexo model. Local sales and exports amounted to 300 units last month (down 70 percent).
Wholesale shipments by powertrain type:
- BEVs: 17,460 (up 23%) and 5.0% share
Hyundai BEVs: 15,846 (up 23%)
Genesis BEVs: 1,614 (up 23%) - PHEVs (Hyundai): 4,087 (up 5%) and 1.2% share
- Total plug-ins: 21,547 (up 19%) and 6.2% share
- FCVs (Hyundai): 300 (down 70%) and 0.1% share
So far this year, the plug-in electric car wholesale shipments exceeded 218,000, which is about 7.9 percent of the total volume.
Wholesale shipments by powertrain type year-to-date:
- BEVs: 182,261 (up 62%) and 6.6% share
Hyundai BEVs: 167,689 (up 66%)
Genesis BEVs: 14,572 (up 21%) - PHEVs (Hyundai): 36,570 (up 16%) and 1.3% share
- Total plug-ins: 218,831 (up 52%) and 7.9% share
- FCVs (Hyundai): 3,812 (down 43%) and 0.1% share
For reference, in 2022 Hyundai Motor Company sold more than 240,000 plug-in electric cars (up 45 percent year-over-year), including nearly 195,000 all-electric (up 56 percent).
Hyundai brand
More than two-thirds of the entire Hyundai BEV volume are two models – Ioniq 5 and Ioniq 6, both based on the E-GMP platform.
The Hyundai Ioniq 6 and Hyundai Kona Electric are selling in a relatively similar volume, although the Kona soon will be strengthened by its new generation.
Top models (wholesale shipments) last month (and YTD):
- Hyundai Ioniq 5 – 8,347 (77,329 YTD)
- Hyundai Kona Electric – 3,880 (47,473 YTD)
- Hyundai Ioniq 6 – 3,617 (42,875 YTD)
- Hyundai Tucson PHEV – 2,979 (26,610 YTD)
- Hyundai Santa Fe PHEV – 1,108 (9,960 YTD)
The hydrogen fuel cell model — Hyundai NEXO — noted 300 units last month (and 3,812 YTD).
Genesis brand
In the case of Genesis, the brand’s wholesale shipments of all-electric cars (GV60, Electrified GV70, and Electrified G80) amounted to 1,614 (up 23 percent year-over-year). The year-to-date volume is 14,572 (up 21 percent year-over-year).
