Hyundai Motor Plug-In Car Sales In October 2022 Hit New High

Hyundai Motor Company (Hyundai and Genesis brands) reports that its global vehicle sales in October amounted to 347,324 units, which is 12% more than a year ago. During the first 10 months of the year, the company sold 3,251,373 vehicles (up 0.4%). This is the first positive year-to-date sales result for the Hyundai Motor this year.

In the case of plug-in electric car sales, things are positive as well. Last month, the combined wholesale shipments (closely related to production) of Hyundai and Genesis plug-in cars amounted to *24,050 (up 25% year-over-year). We estimate that it’s another new monthly record. Plug-in share is close to 7% of the company’s total wholesale volume.

*Retail sales in South Korea plus wholesale sales (manufacturer level) outside South Korea, unaudited and on a preliminary basis.

**The Hyundai sales report includes sales numbers from the plants in South Korea, Europe (Kona Electric and Tucson PHEV), Indonesia (Ioniq 5), and plants in China and India (both small numbers).

These outstanding results are mostly a result of record all-electric car sales, which amounted to almost 20,000 (up 35% year-over-year). Plug-in hybrids were slightly down year-over-year (fourth month in a row).

Wholesale shipments volume by powertrain type:

  • BEVs: 19,952 (up 35%)
  • PHEVs: 4,098 (down 8%)
  • Total plug-ins: 24,050 (up 25%)
  • FCVs: 1,157 (up 15%)

Hyundai brand

The Hyundai brand, which is responsible for the majority of the company’s sales, set a new record of plug-in and all-electric car sales.

The wholesale shipments increased by 18% year-over-year to 22,022 (new record), including almost 18,000 all-electric cars (new record). Plug-in hybrids were down by 8%, while hydrogen fuel cell vehicles (counted separately) were up by 15%.

Hyundai wholesale shipments volume by powertrain type:

  • BEVs: 17,924 (up 26%)
  • PHEVs: 4,098 (down 8%)
  • Total plug-ins: 22,022 (up 18%)
  • FCVs: 1,157 (up 15%)

Hyundai plug-in electric car sales – October 2022

So far this year, Hyundai’s plug-in electric car wholesale shipments amounted to over 175,000.

Wholesale shipments volume by powertrain type YTD:

  • BEVs: 135,595 (up 43%)
  • PHEVs: 39,494 (up 15%)
  • Total plug-ins: 175,089 (up 35%)
  • FCVs: 8,903 (up 7%)

Model results

The Hyundai Ioniq 5 remains the top model in Hyundai’s EV lineup with a rather stable output of around 8,000 units per month, although in October the volume decreased by over 2% year-over-year.

However, the most important stat for the month is the quick ramp-up of the all-new Hyundai Ioniq 6, which noted 3,679 units last month (3,667 retail sales in South Korea and 12 units exported). The low export number indicates that we are still a few months away from volume sales in Europe and in North America, but the Ioniq 6 is definitely coming.

Top model results (wholesale shipments) last month (and year-to-date):

  • Hyundai Ioniq 5 – 8,535 (77,742 YTD)
  • Hyundai Kona Electric – 5,419 (45,187 YTD)
  • Hyundai Tucson PHEV – 3,764 (31,200 YTD)
  • Hyundai Ioniq 6 – 3,679 (6,356 YTD)
  • Hyundai Santa Fe PHEV – 334 (6,190 YTD)

The hydrogen fuel cell model — Hyundai NEXO — noted 1,157 units (8,903 YTD).

Genesis brand

In the case of Genesis, the brand’s wholesale shipments of all-electric cars (GV60, GV70 EV and G80 EV) amounted to 2,028 (including 1,220 GV60, which is a new record).

Year-to-date Genesis sold over 15,900 all-electric cars. The most popular model is the Genesis GV60 (9,237), followed by the Genesis Electrified G80 (3,594) and Genesis Electrified GV70 (3,137).

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