Hyundai And Kia Continued Their EV Sales Surge In August

• Hyundai’s electric vehicle sales increased 72% in August thanks to the Ioniq 5.
• After a sluggish few months of sales, the Kia EV9 bounced back last month.
• EVs and hybrids accounted for 32% of Hyundai’s retail sales mix in August.

Electric vehicles and hybrids once again helped Hyundai and Kia log record sales in August. Hyundai set an all-time August sales record, whereas Kia posted its highest monthly U.S. sales in company history.

Hyundai sold 88,523 vehicles in August, the vast majority of them internal combustion engine models. The Elantra, Palisade and Tucson were by far its best-selling vehicles last month. But EVs and hybrids accounted for 32% of the retail sales mix. And after a sluggish first half of the year, Hyundai’s EV sales rebounded last month, growing 72% year-over-year.

The Ioniq 5 continued to be the star of the show, posting a 61% year-over-year growth with 7,773 units sold. Through August, Hyundai sold nearly 33,000 units of its electric crossover, which now gets a Tesla-style North American Charging Standard (NACS) right from the factory for seamless Supercharger access.

The model itself is more appealing than ever, with an off-road XRT trim and more features. Sales of the Ioniq 6 grew 30% to 1,047 units, whereas the Ioniq 9 three-row electric SUV found 1,106 buyers last month.

Hybrids have also been a bright spot for Hyundai this year, and August was no exception, with the Elantra and Santa Fe hybrids reaching monthly sales records. At a time when as many as 10 sedans are retiring next year, the Elantra continues to be an outlier in its segment with growing sales.

Hyundai and Kia combine their hybrid sales with their gas-only models, so it’s unclear exactly how many hybrids both brands sold last month.

Meanwhile, Kia sold 83,007 units in August, a new monthly record for the brand and a 10.4% increase over the last year. The Sportage was by far its best-selling model, followed by the Telluride and the K4/Forte.

The EV9 bounced back after a sales dip in July, posting a 12% increase year-over-year with 2,679 units sold. Meanwhile, EV6 sales have fallen off a cliff this year, with August marking seven straight months of sales decline since February. Kia sold 1,769 units of the EV6 last month, a nearly 5% year-over-year decline. It trails behind its Ioniq 5 mechanical sibling.

It’s worth noting that Hyundai and Kia have been offering aggressive deals on their EVs, enabled by the federal tax credit, which is now expiring on Sept. 30. Buyers can still claim the tax credit and get deliveries after September, as long as they have a contract signed by the end of the month. Industry analysts expect EV sales to slow down towards the end of the year, but Hyundai said it’s still on track for its best sales year ever.

Regardless of what happens after the tax credits, more electrified Hyundais and Kias are in the pipeline. The next-generation Palisade, which was revealed at the New York Auto Show, goes on sale in the U.S. in the fall and, for the first time, will get a hybrid powertrain. The Kia EV3 is expected to go on sale in the U.S. next year. Hyundai will reveal the Concept Three—which is expected to be the future Ioniq 3—at the IAA Munich auto show in Germany next week.

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