South Korean legacy automaker Hyundai Motor Company, including Hyundai and Genesis brands, enjoyed a year-on-year vehicle sales growth of 3.2% to 347,377 units last month, according to its August 2023 Global Sales report.
Year to date, Hyundai’s vehicle sales reached 2,765,554 units, up 8.6% YoY.
Hyundai, Genesis plug-in vehicle sales
August 2023
Hyundai sold more than 18,000 battery electric vehicles in August, with Ioniq 5 and Ioniq 6 EVs accounting for approximately 70% of the total.
Meanwhile, Hyundai and Genesis’ overall wholesale shipments of plug-in vehicles (closely related to production) surged 19% YoY to *21,547. InsideEVs indicated its estimates that the figure is about 6.2% of the overall volume, up from just 5.8% in 2022.
The publication also provided some pointers to note:
“*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 provided data suggests that the company’s BEV volume grew 23% YoY to 17,460. Meanwhile, plug-in hybrid vehicle volume increased 5% YoY to 4,087 units.
Refer to the table below:
| Sales and YoY Change | Share | |
| BEVs | 17,460 (up 23%) | 5.0% |
| Hyundai BEVs | 15,846 (up 23%) | – |
| Genesis BEVs | 1,614 (up 23%) | – |
| PHEVs (Hyundai) | 4,087 (up 5%) | 1.2% |
| Total plug-ins | 21,547 (up 19%) | 6.2% |
| FCVs (Hyundai) | 300 (down 70%) | 0.1% |
YTD (Jan – Aug)
As for the January to August period, the company’s plug-in electric car wholesale shipments reached more than 218,000.
Notably, it represents around 7.9% of the overall vehicle volume.
Presented below are the YTD sales data:
| Sales and YoY Change | Share | |
| BEVs | 182,261 (up 62%) | 6.6% share |
| Hyundai BEVs | 167,689 (up 66%) | – |
| Genesis BEVs | 14,572 (up 21%) | – |
| PHEVs (Hyundai) | 36,570 (up 16%) | 1.3% share |
| Total plug-ins | 218,831 (up 52%) | 7.9% share |
| FCVs (Hyundai) | 3,812 (down 43%) | 0.1% share |
Top-selling models
As expected, the award-winning Hyundai Ioniq 5 and Ioniq 6 models dominate the automaker’s sales, accounting for more than two-thirds of the overall BEV volume.
Below are the best-selling models from Hyundai in August and YTD:
| Models | August Sales | YTD Sales |
| Hyundai Ioniq 5 | 8,347 | 77,329 |
| Hyundai Kona Electric | 3,880 | 47,473 |
| Hyundai Ioniq 6 | 3,617 | 42,875 |
| Hyundai Tucson PHEV | 2,979 | 26,610 |
| Hyundai Santa Fe PHEV | 1,108 | 9,960 |
It is also worth noting that the Hyundai NEXO FCEV sold 300 units in August and 3,812 YTD.
Meanwhile, Genesis’ BEV wholesale shipments, including GV60, Electrified GV70, and Electrified G80, grew 23% YoY to 1,614 units. As for the January-August period, it amounted to 14,572, up 21% YoY.
See Also:
- Hyundai Ioniq 6 receives TOP SAFETY PICK+ Rating from the IIHS
- Hyundai, Kia US presence weakens due to the IRA
- Hyundai Motor dominates the Indonesian EV market in Jan-July 2023
- Hyundai, LGES to add $2B into their joint battery factory development in Georgia
- Hyundai to compete with Tesla Superchargers with a new 350kW EV charging system
Hyundai’s August sales performance is indeed remarkable, given that it currently has a disadvantage in the US due to the IRA’s federal tax credit for locally produced models.
Nonetheless, the company is now rushing to open its local factory in Georgia to catch up with industry leader Tesla in the North American market.
