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Hyundai and Kia Hit New Heights: Record-Breaking November Sales Driven By EVs

Hyundai’s IONIQ 5 And Kia’s EV9 Lead The Charge As Both Brands Hit Historic Sales

Michael Phoon

December 3, 2024 | Updated 07:07, December 3, 2024

2 min read

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Hyundai has achieved its best-ever sales month in November, with electric vehicles (EVs) models driving significant growth while Kia has also reached record November sales with its EVs marking major growth as well.

Hyundai’s Record-Breaking November

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Hyundai IONIQ 5 (Image: Hyundai)

For Hyundai, the company sold 76,008 vehicles, marking a remarkable 8% increase over the previous year, with electrified vehicles leading the charge. The Hyundai IONIQ 5 emerged as a standout performer, more than doubling its sales to 4,989 units in November—a 110% increase compared to the same month last year.

In detail, this success comes on the heels of the recently introduced 2025 model, which offers improved range, features, and style, including access to Tesla’s Supercharger network via an NACS port.

IONIQ 5’s Success

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Hyundai IONIQ 5 XRT (Image: Hyundai)

The new IONIQ 5 starts at $43,975 for the Standard Range model, offering up to 245 miles of driving range, with an extended-range version reaching up to 318 miles. A rugged XRT trim is also available for adventure enthusiasts, priced at $56,875.

Hyundai’s electrified lineup saw impressive growth across the board, with EV sales up 77%, hybrid sales surging 104%, and total electrified sales increasing by 92%. Several models, including the Santa Fe HEV and Tucson PHEV, recorded their best-ever sales month.

Kia’s November Milestone

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Kia EV9 (Image: Kia)

Sister company Kia also celebrated a milestone, selling 70,107 units in November—a 20% increase from the previous year and the first November to surpass 70,000 units. The EV9 electric three-row SUV performed particularly well, selling 2,155 units and slightly outpacing the EV6.

However, despite the impressive growth, EVs still represent a small portion of total sales. At Hyundai, the IONIQ 5 and IONIQ 6 combined account for just 6.7% of total vehicle sales, with 50,860 units sold year-to-date. Kia shows a similar pattern, with the EV6 and EV9 representing only 5.5% of total sales.

Randy Parker, CEO of Hyundai Motor America, expressed enthusiasm about the company’s performance, highlighting the diverse vehicle lineup and excitement surrounding the upcoming IONIQ 9, set to launch next year.

Hyundai and Kia’s EV Growth Strategy

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2026 Kia EV9 GT (Image: Kia)

Looking ahead, Hyundai is positioning itself for continued growth in the EV market. The company manufactures EVs at its new plant in Georgia, and all US-built models qualify for a partial tax credit. Once the battery plant opens next year, Hyundai expects its EVs to become eligible for the full $7,500 tax credit.

As for Kia, the company has recently revealed its 2025 Kia EV6 model and its 2026 EV9 GT model. Furthermore, the company is still steadfast in its goal to sell 1.6 million EVs annually by 2030.

With continued improvements to their electric lineup, Hyundai and Kia are clearly signaling their commitment to the EV industry as they resume to see strong performance from their results in the EV market.

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