Hyundai Motor Increased Plug-In Car Wholesale Shipments In April 2023

Hyundai Motor Company (Hyundai and Genesis brands) reports that its global vehicle sales in April amounted to 336,212 units, which is 8.5 percent more than a year ago. During the first four months of 2023, the company sold 1,357,924 vehicles (up 12 percent year-over-year).

Plug-in electric car sales – specifically all-electric car sales – increase even faster. According to Hyundai Motor Company, last month, the combined wholesale shipments (closely related to production) of Hyundai and Genesis plug-in cars, amounted to *28,256 (up 31 percent year-over-year). We estimate that it’s around 8.4 percent of the total 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), as well as in the United States.

The data indicates that all-electric car volume increased by 37 percent year-over-year to 23,726.

However, Hyundai Motor notes that BEV sales (deliveries, as we understand) amounted to nearly 23,000 units. In other words, this time, the difference between the two measures was relatively small.

Wholesale shipments by powertrain type:

• BEVs: 23,726 (up 37%)
• PHEVs: 4,530 (up 7%)
• Total plug-ins: 28,256 (up 31%)
• FCVs: 354 (down 73%)

So far this year, the plug-in electric car wholesale shipments exceeded 113,000 (up 70 percent year-over-year).

Wholesale shipments by powertrain type year-to-date:

• BEVs: 95,684 (up 86%)
• PHEVs: 17,779 (up 17%)
• Total plug-ins: 113,463 (up 70%)
• FCVs: 2,405 (down 13%)

For reference, in 2022 Hyundai Motor Company sold more than 240,000 plug-in electric cars (up 45 percent year-over-year), including nearly 195,000 all-electric (up 56 percent).

Hyundai brand

The Hyundai brand, which is responsible for the majority of the company’s plug-in car sales, noted a 33 percent year-over-year increase in wholesale shipments, to over 26,000.

Hyundai wholesale shipments by powertrain type:

• BEVs: 21,548 (up 40%)
• PHEVs: 4,530 (up 7%)
• Total plug-ins: 26,078 (up 33%)
• FCVs: 354 (down 73%)

Wholesale shipments by powertrain type YTD:

• BEVs: 87,721 (up 86%)
• PHEVs: 17,779 (up 17%)
• Total plug-ins: 105,500 (up 69%)
• FCVs: 2,405 (down 13%)

For reference, in 2022, Hyundai’s plug-in electric car wholesale shipments amounted to over 221,000, including over 175,000 all-electric cars.

Hyundai reports that the Hyundai Ioniq 5 and Hyundai Ioniq 6 models accounted for nearly 70 percent of the total all-electric car sales last month.

The Hyundai Ioniq 5 remains the top model in Hyundai’s EV lineup, while the Hyundai Ioniq 6 slightly weakened compared to March, and noted a result lower than the Kona Electric.

In 2023, the lineup will be joined by the Ioniq 5 N – “the company’s first high-performance EV, with details to be unveiled in the coming months.” In the pipeline is also the all-new Kona, which will have an all-electric version.

Top models (wholesale shipments) last month (and YTD):

• Hyundai Ioniq 5 – 10,736 (37,878 YTD)
• Hyundai Kona Electric – 6,221 (26,387 YTD)
• Hyundai Ioniq 6 – 4,591 (23,456 YTD)
• Hyundai Tucson PHEV – 3,273 (13,466 YTD)
• Hyundai Santa Fe PHEV – 1,257 (4,313 YTD)

The hydrogen fuel cell model — Hyundai NEXO — noted 354 units last month (and 2,405 YTD).

Genesis brand

In the case of Genesis, the brand’s wholesale shipments of all-electric cars (GV60, Electrified GV70, and Electrified G80) amounted to 2,178 (up 15 percent year-over-year). The year-to-date volume is close to 8,000 (almost 80 percent higher than in 2022 at this point).