- Kia’s EV sales have risen 127 percent year-on-year, with 7,197 electric cars delivered in May ’24.
- On the other hand, K5 sedan sales have tanked by over 63 percent, both month-to-date and year-to-date.
- The company’s global sales have declined by 2.1 percent, with an 8.3 percent drop in their Korean home market.
While Kia celebrates EV sales reaching new heights, Kia America’s May sales figures may show an overall decline of one percent for the first five months of 2024 compared to last year’s results. Perhaps even more concerning for the company is how sales of the K5 have crashed by over 63 percent, both in May and from the beginning of the year (YTD).
Starting with the positive, Kia’s May EV sales have risen by 127 percent year over year, with 7,197 new battery electric vehicles finding homes in the U.S. Meanwhile, Kia America reports that May has been their best-ever month, with 75,156 deliveries, 5.1 percent more than the same time last year.
Read: Kia’s EV Sales Surge 88% Despite Overall Q1 Decline
This was helped by the EV6 setting a new sales record with 2,660 deliveries, while EV9 sales rose for a second consecutive month with 2,187 units out the door.
However, it wasn’t all good news, with Kia’s K5 sedan sales tanking by 64.6 percent in May 2024 compared to the same time last year. While the MoM decline can potentially be attributed to the K5 getting a refresh for the 2025 model year, the YTD drop of 63.6 percent will likely be ringing a few alarm bells for Kia execs as the once-popular sedan falls out of favor.
Interestingly, the Forte, which will imminently be replaced by the Kia K4, has seen a sales boom of 31 percent month-on-month and 14.3 percent for the year-to-date. The Forte is also the second-most popular model for May 2024, edging out the Telluride for silver by just a few units.
Another model that quietly suffers is the Rio, with just eight units sold in May. However, this is no surprise, as the subcompact model quietly bows out of Kia’s U.S. lineup with no sign of being replaced.
Kia US Sales
Notable increases in May include the Sportage (up 20.6 percent), the Carnival (up 28.5 percent), and the Niro (up 26.4 percent).
“With model development in line with consumer needs and strong vehicle supply, Kia continued its sales growth momentum in May,” said Eric Watson, vice president, sales operations, Kia America. “Kia offers a balanced mix of electric, hybrid, and ICE models that are meeting customer demands, and we expect to see increased showroom traffic and transactions through dealers.”
Global Sales
Kia also announced its May 2024 global sales results. With 264,313 units sold, the company is 2.1 percent down year over year. A large percentage of that was reported from the company’s home market of South Korea. With 46,110 sales in May, Korean sales have fallen by 8.3 percent. The Sorento SUV led the company’s passenger vehicle sales in its home market, recording 7,487 sales. The Carnival MPV and Sportage SUV followed, with 7,211 and 6,644 units respectively.
Kia Global Sales
