Hyundai Motor Company (Hyundai and Genesis brands) reports that its global vehicle sales in February amounted to 327,718 units, which is 7.3 percent more than a year ago. So far this year, the company sold 637,841 vehicles (up 8.5 percent year-over-year).
Our focus is on the quickly expanding plug-in electric car sales, which last month reached new record levels.
According to Hyundai Motor Company, last month, the combined wholesale shipments (closely related to production) of Hyundai and Genesis plug-in cars amounted to *30,364 (up 70 percent year-over-year). We estimate that it's over nine 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 indicate that both, all-electric and plug-in hybrid vehicle wholesale shipments reached new monthly records. In the case of BEVs, it's more than 25,000 for the very first time, while in the case of PHEVs, it's more than 5,000 units.
It's worth noting that the company reports over 20,000 all-electric car sales (compared to 25,000+ wholesale shipments), which indicates that the following months might be even better.
"Hyundai Motor maintained its electric vehicle (EV) sales momentum by selling over 20,000 units in February, led by IONIQ 5 and IONIQ 6, which accounted for more than half of the total EV sales."
Wholesale shipments volume by powertrain type:
So far this year, the wholesale shipments exceeded 51,000 (up 77 percent year-over-year).
Wholesale shipments volume by powertrain type year-to-date:
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).
The Hyundai brand, which is responsible for the majority of the company's plug-in car sales, noted a 66 percent year-over-year increase in wholesale shipments to over 28,000.
It's a new monthly record, but more importantly, also the all-electric segment noted a record of over 23,000.
Hyundai wholesale shipments volume by powertrain type:
Wholesale shipments volume by powertrain type YTD:
For reference, in 2022, Hyundai's plug-in electric car wholesale shipments amounted to over 221,000, including over 175,000 all-electric cars.
The Hyundai Ioniq 5 remains the top model in Hyundai's EV lineup with nearly 10,000 units in February, although it's worth noting that the Hyundai Ioniq 6 reached a new monthly record of 6,854.
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):
The hydrogen fuel cell model — Hyundai NEXO — noted 924 units in February (and 1,328 YTD).
In the case of Genesis, the brand's wholesale shipments of all-electric cars (GV60, GV70 EV, and G80 EV) amounted to 1,765 (up 206 percent year-over-year) plus the first 24 Genesis Electrified GV70 produced in the US.