Hyundai Motor and Kia's Eco-Friendly Vehicles Race Ahead in the US and EU

Ioniq 5 and EV6 Launch Effect
Eco-Friendly Car Sales Soar

[Asia Economy Reporter Hyunseok Yoo] Hyundai Motor Company and Kia are rapidly increasing their sales of eco-friendly vehicles in the demanding markets of the United States and Europe. This is attributed to the positive reception and launch effects of the Ioniq 5 and EV6, the first electric vehicles built on a dedicated electric vehicle platform.

According to the automotive industry on the 17th, Hyundai and Kia's global market sales in April totaled 308,788 units, a 9.2% decrease compared to the same period last year. However, sales of eco-friendly vehicles reached 28,835 units, marking an 86.1% increase year-over-year.

In particular, sales of eco-friendly vehicles continue to grow steadily in key countries such as the United States. Last month, Hyundai (including Genesis) sold 66,707 units in the U.S. Among these, 7,409 were eco-friendly vehicles, a 47.6% increase compared to the same period last year, accounting for 11.1% of total sales. The best-selling vehicle was the electric Ioniq 5 with 2,677 units sold, followed by the Tucson Hybrid (HEV) and Elantra (local name for Avante) HEV with 1,706 and 1,030 units respectively.

Kia sold a total of 40,601 units, of which 6,788 were eco-friendly vehicles, representing a 130.3% increase year-over-year. The share of eco-friendly vehicles was 11.5%. By sales volume, the EV6, built on the E-GMP platform, led with 2,632 units, followed by the Niro HEV and Sorento HEV with 2,525 and 1,118 units respectively.

Especially in the first quarter, Hyundai and Kia's sales of eco-friendly vehicles in the U.S. and Europe are also growing rapidly. Hyundai sold 25,790 eco-friendly vehicles in the U.S., a 197.80% increase compared to 8,660 units sold in the same period last year. Kia sold 18,549 units, up 238.67% from 5,477 units in the previous year.

The situation is similar in Europe. According to the European Automobile Manufacturers Association (ACEA), Hyundai and Kia sold 124,128 and 145,222 units respectively. Kia sold 269,350 units in Europe from January to March this year, a 21.3% increase compared to the same period last year. Among these, sales of eco-friendly vehicles such as the Kona Electric, Ioniq Electric, Ioniq 5, Soul, Niro, and EV6 reached 42,599 units, a 59.4% increase year-over-year. Pure electric vehicles registered in Europe in the first quarter totaled 224,145 units, a 53.4% increase compared to the previous year. Hyundai and Kia accounted for 20% of this, meaning one in five vehicles is from these brands.

The rapid growth of Hyundai and Kia’s eco-friendly vehicles is attributed to the launch of Hyundai’s Ioniq 5 and Kia’s EV6. Both are the first electric vehicles from Hyundai and Kia built on the dedicated electric vehicle platform E-GMP. They have swept numerous global awards and created a sensation in the electric vehicle market. Particularly in the U.S., from January to April, 8,921 units of the Ioniq 5 and 7,913 units of the EV6 were sold. During the same period in Europe, the Ioniq 5 recorded 10,127 units and the EV6 11,369 units.

Professor Pilsoo Kim of Daelim University’s Department of Automotive Engineering said, "The completeness of the E-GMP, a dedicated electric vehicle platform, is excellent, which maximizes interior space. Additionally, features that address consumer needs, such as indoor V2L (Vehicle-to-Load) that supplies electricity outside the vehicle, have appealed to customers, contributing to their popularity."