Hyundai Electric Vehicles Expect a Promising Future

Hyundai set a new electric vehicle sales record in the United States in 2023, selling a combined 46,917 IONIQ 5 and IONIQ 6 models even though the cars did not qualify for the federal EV tax credit outside of leasing programs.

The IONIQ 5 led the way with 33,918 units for the year, a 48 percent jump over 2022, including a 90 percent year over year increase in December and a 92 percent gain in the fourth quarter.

The newer IONIQ 6, which launched in spring 2023, added 12,999 sales, with 2,056 in December and 4,681 in the fourth quarter.

The electric results contributed to a record overall year for the automaker, which sold 801,195 vehicles in the United States, an 11 percent increase over the prior year and its third straight annual record.

Hyundai's global president said the company could have sold even more electric vehicles if production capacity had allowed, citing strong demand for its dedicated EV lineup.

Together with Kia, the Hyundai Motor Group outpaced General Motors and Ford in third quarter EV registrations, and Kia also posted record sales in 2023.