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Hyundai achieved its best-ever November gross sales as demand for its totally electrical autos continues rising. Gross sales had been led by the Hyundai IONIQ 5, up 99% over final 12 months.
For the sixteenth straight month, Hyundai’s complete gross sales grew in November. Regardless of claims the EV market is cooling, the South Korean model continues to see rising demand.
Hyundai offered 2,372 IONIQ 5 fashions final month, representing 99% development over final 12 months. The model has offered over 30,000 IONIQ 5 electrical SUVs this 12 months, up 44% in comparison with ~21K final 12 months right now.
The corporate additionally offered 1,386 IONIQ 6 fashions, up 12% from October. Demand is rising after Hyundai’s devoted EVs set new October gross sales information final month.
Hyundai Kona gross sales had been additionally up 25% in November, however the firm doesn’t present what number of had been electrical.
Hyundai’s rising EV gross sales propelled it to second within the US EV market, behind solely Tesla within the third quarter.
Registration knowledge from Automotive Information exhibits Hyundai and Kia claimed 7.5% of the market. Though that is nonetheless removed from Tesla (57.4%), it was sufficient to surpass GM’s Chevy (5.9%) and Ford (5.5%).
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Hyundai EV gross sales result in document November
Hyundai’s international president, Jose Munoz, informed Reuters forward of the LA Auto Present final month the model remains to be seeing robust demand for EVs within the US. Munoz mentioned he’s “nonetheless very bullish” on EVs, highlighting EV gross sales doubling year-over-year.
The spectacular development comes regardless of Hyundai EVs not qualifying for the EV tax credit score (solely via leasing).
Hyundai sweetened the deal by providing a free EV charger with the lease or buy of a brand new EV. The deal consists of the 2023 or 2024 Hyundai IONIQ 5 or IONIQ 6 or a 2023 Kona electrical.
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Munoz mentioned final month, “Based mostly on what I see, I would like extra. If I had extra capability at the moment, I might promote extra automobiles.”
The feedback come regardless of friends, together with Ford and GM, delaying EV targets, citing slowing demand.
Hyundai has plans to speed up the momentum with its first EV and battery plant within the US. The South Korean automaker started development final October. After pushing improvement, Hyundai says 99.9% of the inspiration work is now full.
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Munoz mentioned the corporate is “pushing as a lot as we probably can to get it prepared by October subsequent 12 months.” As soon as up and working, the $5.5 billion mega plant will allow Hyundai EVs to qualify for the tax credit score, which ought to assist enhance momentum.
Hyundai’s chief says the model is “pulling forward” as Hyundai continues seeing robust demand for its EVs.
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