Hyundai Motor Firm’s (Hyundai and Genesis manufacturers) international automobile gross sales in December amounted to 342,919, down 0.8% year-over-year. In 2023, the corporate offered 4,216,680 autos (up 6.9% year-over-year).
Sadly, December introduced comparatively weak gross sales of plug-in electrical vehicles (a fifth decrease than a yr in the past), regardless of that, the yr as an entire was nonetheless a report end result.
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Hyundai EV gross sales hit new report in 2023
In 2023, Hyundai Motor’s international plug-in automobile gross sales exceeded 300,000, which is nearly a 3rd greater than in 2022. This consists of over 260,000 all-electric Hyundai and Genesis vehicles.
Final month, the mixed wholesale shipments (that are carefully associated to manufacturing) of Hyundai and Genesis plug-in vehicles amounted to *19,097 (down 22% year-over-year). We estimate it’s round 5.6% of the automaker’s complete gross sales quantity (in comparison with 7.1% a yr in the past).
*Retail gross sales in South Korea plus abroad gross sales (primarily based on wholesales; on the producer degree), unaudited and on a preliminary foundation.
All-electric automobile quantity decreased by 24% year-over-year to 16,601, together with 15,857 Hyundai BEVs (down 23% year-over-year) and 744 Genesis (down 41% year-over-year). Plug-in hybrid automobile quantity amounted to 2,496 (down 7% year-over-year).
Such a noticeable drop, mixed with just a few earlier months with out a lot development (or a decline), probably signifies challenges on the horizon.
Wholesale plug-in automobile gross sales final month (YOY change):
BEVs: 16,601 (down 24%) and 4.8% shareHyundai BEVs: 15,857 (down 23%)Genesis BEVs: 744 (down 41%) PHEVs (Hyundai): 2,496 (down 7%) and 0.7% share Whole plug-ins: 19,097 (down 22%) and 5.6% share FCVs (Hyundai): 80 (down 82%) and 0% share
![external_image](https://cdn.motor1.com/images/custom/thumbnail/hyundai-and-genesis-plug-in-car-sales-december-2023.png)
In 2023, plug-in electrical automobile wholesale shipments exceeded 309,000 (up 29% year-over-year), which is about 7.4% of the overall quantity. All-electric automobile gross sales virtually reached 260,000 (up 33% year-over-year), accounting for six.2% of the overall quantity.
Wholesale plug-in automobile gross sales year-to-date (YOY change):
BEVs: 259,442 (up 33%) and 6.2% shareHyundai BEVs: 240,683 (up 37%)Genesis BEVs: 18,759 (down 0.5%) PHEVs (Hyundai): 50,393 (up 11%) and 1.2% share Whole plug-ins: 309,835 (up 29%) and seven.4% share FCVs (Hyundai): 4,552 (down 57%) and 0.1% share
For reference, in 2022, Hyundai Motor Firm offered greater than 240,000 plug-in electrical vehicles (up 45% year-over-year), together with practically 195,000 all-electric (up 56%).
Retail gross sales of all-electric vehicles (together with business autos), in line with a separate report, amounted to 268,785. That is 9,343 greater than the wholesale shipments.
The yr 2023 wass one of the best ever when it comes to Hyundai (and Genesis) electrification, however not with out challenges.
![external_image](https://cdn.motor1.com/images/custom/thumbnail/hyundai-and-genesis-plug-in-car-sales-december-2023-b.png)
Hyundai model
![external_image](https://cdn.motor1.com/images/custom/thumbnail/hyundai-and-genesis-plug-in-car-sales-december-2023-c.png)
In December, wholesale shipments of the E-GMP-based fashions (Hyundai Ioniq 5, Hyundai Ioniq 5 N, Hyundai Ioniq 6, and Genesis GV60) decreased by 23% year-over-year to 12,088. Surprisingly, it is the lowest degree this yr and since August 2022.
It is a very attention-grabbing final result, particularly since Kia greater than doubled E-GMP automobile gross sales.
The highest three all-electric fashions within the lineup stay the identical: the Ioniq 5, Kona Electrical, and the Ioniq 6.
High fashions (wholesale shipments) final month and YTD (YOY change):
E-GMP BEVs: 12,088 (down 23%) and 179,957 YTD (up 43%) Hyundai Ioniq 5: 8,907 (down 14%) and 113,738 YTD (up 14%) Hyundai Kona Electrical: 4,097 (down 27%) and 70,871 YTD (up 25%) Hyundai Ioniq 6: 1,871 (down 59%) and 54,824 YTD (up 270%)
![external_image](https://cdn.motor1.com/images/custom/thumbnail/hyundai-and-genesis-plug-in-car-sales-december-2023-d.png)
The hydrogen gasoline cell mannequin — Hyundai Nexo — famous 80 models final month (down 82% year-over-year) and 4,552 YTD (down 57% year-over-year).
Genesis model
The Genesis model continued to battle within the all-electric automobile phase for the fourth consecutive month. Its wholesale shipments amounted to solely 744 models, the bottom degree since February 222, down 41% year-over-year. The year-to-date quantity amounted to 18,759 (down 0.5% year-over-year).
![external_image](https://cdn.motor1.com/images/custom/thumbnail/hyundai-and-genesis-plug-in-car-sales-december-2023-e.png)
2024 Targets
In 2024, Hyundai Motor intends to promote about the identical variety of autos—4,243,000, in comparison with 4,216,680 in 2023. This alone signifies that the yr 2024 will likely be difficult.
There are not any particulars associated to all-electric vehicles, moreover that profitability is likely one of the priorities: “Hyundai plans to take the lead in electrification and concentrate on optimizing profitability by strengthening its international electrical automobile (EV) manufacturing infrastructure, establishing versatile enterprise methods to adapt to market adjustments, and reinforcing preemptive threat administration capabilities.”