- Hyundai sold 184,804 vehicles between January and March, the most it ever has in Q1.
- Growth was primarily driven by its electrified vehicles, with sales of EVs increasing by 100 percent and deliveries of green vehicles up by 35 percent.
- However, sales of the Elantra, Sonata, Santa Fe, and Santa Cruz all fell.
When the U.S. introduced its strictest emissions standards ever, Hyundai was confident that it could meet regulatory requirements without changing its plans. Looking at the strong performance of its electrified vehicles in the first quarter of 2024, it’s not hard to see why.
Sales are up across the board for its electrified models and, in March, the automaker set sales records for the Ioniq 5, the Tucson PHEV, and the Tucson HEV. Hyundai reports that sales of its all-electric vehicles are up 100 percent, and that sales of its green vehicles are up 35 percent.
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Indeed, sales of the electric Ioniq 5 grew by 58 percent in March, when 3,361 of the models left dealer showrooms. The month accounted for almost half of the model’s Q1 sales, which amounted to 6,822 in total. That’s up 18 percent as compared to 2023.
The Ioniq 6 also had a very strong March. While Hyundai sold just 1,984 of the EVs last month, that was an increase of 794 percent as compared to March 2023. For the first quarter of 2024, 3,646 Ioniq 6s were sold across America, 1,542 percent more than in the first quarter of last year.
Deliveries of the Kona saw an increase as well. Although Hyundai combines both electric and internal combustion sales, making it difficult to separate by powertrain, the model’s overall sales surged by 20 percent in the first quarter of the year.
Hyundai Q1 2024 Sales
The rise of Hyundai’s green vehicles was hurt by the Nexo, whose sales were down 22 percent. Fuel cell vehicles are suffering in the U.S. after Shell announced that it would close all of its refilling stations in California, significantly reducing the number of places owners have to get more hydrogen for their vehicles.
Regardless, electrified models accounted for the majority of Hyundai’s sales gains over the course of the last three months. Apart from the Palisade, whose sales grew by 29 percent, and the above-mentioned electrified models, sales of Hyundai vehicles were mostly down.
The Elantra, Santa Cruz, Santa Fe, Sonata, Tucson, and Venue all saw sales dips in Q1 2024. Despite that, Hyundai managed to sell 184,804 vehicles in the last three months, 0.2 percent more than it did a year earlier, and the most it ever has in the first quarter of the year.
