Hyundai Motor Increased Plug-In Car Sales In August 2022 By 25%

Hyundai Motor Company (Hyundai and Genesis brands) reports that its global vehicle sales in August amounted to 334,794 units, which is nearly 12% more than a year ago. During the first eight months of the year, the company sold 2,544,681 vehicles (down 4%).

According to the manufacturer’s stats, the situation is improving compared to the first part of the year.

If we look at the wholesale shipments, the numbers are also positive. Last month, the combined wholesale shipments (closely related to production) of Hyundai and Genesis plug-in cars amounted to *18,116 (up 25% year-over-year). We estimate that it’s also over 5% of the company’s total wholesale volume.

*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).

Wholesale shipments volume by powertrain type:

• BEVs: 14,208 (up 36%)
• PHEVs: 3,908 (down 3%)
• Total plug-ins: 18,116 (up 25%)
• FCVs: 1,014 (up 66%)

Hyundai

The Hyundai brand, which is responsible for the majority of the company’s sales, noted in August another slight increase in plug-in electric car sales.

The wholesale shipments increased by 17% year-over-year to 16,799, including almost 13,000 all-electric cars. Plug-in hybrids are down over 3%, while hydrogen fuel cell vehicles (counted separately) are up only 66%.

Hyundai wholesale shipments volume by powertrain type:

• BEVs: 12,891 (up 25%)
• PHEVs: 3,908 (down 3%)
• Total plug-ins: 16,799 (up 17%)
• FCVs: 1,014 (up 66%)

So far this year, Hyundai’s plug-in electric car wholesale shipments amounted to over 132,000 (up 40% year-over-year).

Wholesale shipments volume by powertrain type YTD:

• BEVs: 100,751 (up 47%)
• PHEVs: 31,505 (up 23%)
• Total plug-ins: 132,256 (up 40%)
• FCVs: 6,648 (up 5%)

The Hyundai Ioniq 5 remains the top model in Hyundai’s EV lineup, gliding at around 8,000 units per month. So far this year, the production exceeded 61,000 and stands at over 127,000 cumulatively.

The all-new Hyundai Ioniq 6 is still in the very early stage of the ramp-up with a double-digit result in August (10), while the all-electric and plug-in hybrid IONIQ models are on their way out.

Model results (wholesale shipments) last month (and year-to-date):

The hydrogen fuel cell model — Hyundai NEXO — noted 1,014 units (6,648 YTD).

Genesis

In the case of Genesis, the brand’s wholesale shipments of all-electric cars (GV60, GV70 EV and G80 EV) amounted to 1,317, which brings the year-to-date number to over 12,000.

The E-GMP-based Genesis GV60 BEV recently slowed down from over 1,000 units per month to just over 600 in August. The company noted also 326 G80 EV (2,732 YTD) and 634 GV70 EV (6,878 YTD).