Hyundai Motor Sold Almost 25,000 Plug-In Cars In November 2022

Hyundai Motor Company (Hyundai and Genesis brands) reports that its global vehicle sales in November amounted to 351,179 units, which is 10.7% more than a year ago. During the first 11 months of the year, the company sold 3,600,138 vehicles (up 1.2%%), which indicates that the challenging year of 2022 will be positive after all.

An important part of the growth is the booming plug-in electric car segment. Last month, the combined wholesale shipments (closely related to production) of Hyundai and Genesis plug-in cars amounted to *24,831 (up 51% year-over-year). We estimate that it’s the third consecutive monthly record. Plug-in share exceeded 7% 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).

The results are especially good in the case of all-electric car sales, as the company achieved a new record of about 21,500 units and a growth rate of 60% year-over-year.

These outstanding results are mostly the result of record all-electric car sales, which amounted to almost 20,000 (up 35% year-over-year). Plug-in hybrids were slightly up this time.

Wholesale shipments volume by powertrain type:

• BEVs: 21,500 (up 60%)
• PHEVs: 3,331 (up 10%)
• Total plug-ins: 24,831 (up 51%)
• FCVs: 1,176 (up 24%)

Hyundai brand

The Hyundai brand, which is responsible for the majority of the company’s sales, set a new record for both plug-in and all-electric car sales.

The wholesale shipments increased by 47% year-over-year to 23,204, including almost 20,000 all-electric cars.

Hyundai wholesale shipments volume by powertrain type:

• BEVs: 19,873 (up 56%)
• PHEVs: 3,331 (up 10%)
• Total plug-ins: 23,204 (up 47%)
• FCVs: 1,176 (up 24%)

So far this year, Hyundai’s plug-in electric car wholesale shipments amounted to almost 200,000, including over 150,000 all-electric cars.

Hydrogen fuel cell vehicles for the very first time exceeded 10,000 units in a single year (compared to 9,620 in 2021).

Wholesale shipments volume by powertrain type YTD:

• BEVs: 155,468 (up 44%)
• PHEVs: 42,825 (up 15%)
• Total plug-ins: 198,293 (up 37%)
• FCVs: 10,079 (up 9%)

The Hyundai Ioniq 5 remains the top model in Hyundai’s EV lineup. In November, the total volume exceeded 10,000 for the second time ever. The company noted also that through December, it sold over 88,000 units.

A very nice thing to see is the gradual ramp-up of the all-new Hyundai Ioniq 6 with close to 4,000 units in November. Hopefully, soon the company will start exporting its new electric sedan (so far this year only a handful were exported).

Top models (wholesale shipments) last month (and year-to-date):

The hydrogen fuel cell model — Hyundai NEXO — noted 1,176 units (10,079 YTD).

Genesis brand

In the case of Genesis, the brand’s wholesale shipments of all-electric cars (GV60, GV70 EV and G80 EV) amounted to 1,627 (including 971 GV60, which is a new record).

Year-to-date Genesis sold over 17,500 all-electric cars. The most popular model is the Genesis GV60 (10,208), followed by the Genesis Electrified G80 (3,929) and Genesis Electrified GV70 (3,458).