Hyundai set a new third-quarter retail sales record in the US, partially driven by “strong demand” for the all-electric IONIQ 5. The IONIQ 5 remains one of the best-selling EVs, with over 30,000 models sold in 2024.
Hyundai IONIQ 5 sales reach 30,000 mark in Q3 2024
“We set an all-time retail sales record in the third quarter thanks to strong demand for our IONIQ 5 and hybrid models,” according to Hyundai Motor America’s CEO Randy Parker.
Hyundai set a new Q3 retail sales record last quarter. Total vehicle sales reached nearly 211,000, up 5% from Q3 2023.
After selling another 11,590 IONIQ 5 models in Q3, Hyundai’s electric SUV crossed the 30,000 sales mark in 2024. The IONIQ 5 remains one of the best-selling EVs in the US, with 30,318 models sold through the first nine months of the year, an increase of 20% from 2023.
Hyundai IONIQ 6 sales are also up 9% year-to-date (YTD) despite slipping 57% in Q3 with only 2,185 units sold.
The sales growth comes despite Hyundai unveiling the updated 2025 IONIQ 5, which will be the first vehicle built at its new Georgia EV plant opening this month. The new IONIQ 5 features more range, a rugged new XRT trim, and a Tesla NACS port.
Hyundai said the US-built IONIQ 5 will initially qualify for a partial $3,750 tax credit, but once the battery portion opens, it’s expected to be eligible for the full $7,500.
Hyundai’s sister company, Kia, is also seeing strong demand in the US as its new three-row EV9 SUV rolls out.
Later this year, Hyundai will introduce its first three-row electric SUV, the IONIQ 9. With US production kicking off and new models coming, Hyundai is poised to carry the momentum into 2025.
Electrek’s Take
Will Hyundai Motor Group (including Kia) maintain its lead after topping Ford and GM in the US in Q2 to become the second-best-selling EV brand in the US behind Tesla?
According to sales data from CNBC, GM sold nearly 21,000 EVs in the US in July and August. With new models rolling out, like the Chevy Blazer, Equinox, and Silverado EVs, GM expects to build momentum into the end of 2024.
It will be a tight race for second place in the US EV market this year. Check back for more info soon, as Ford and GM report Q3 sales this week.
With the updated IONIQ 5 on its way, Hyundai is offering massive discounts (up to $14,000 off) on the current model. You can use our link to view deals on Hyundai’s electric SUV in your area.
FTC: We use income earning auto affiliate links. More.
