Hyundai Motor Firm’s (Hyundai and Genesis manufacturers) international automobile gross sales in April 2024 amounted to 345,840, down 3.3% year-over-year. Throughout the first 4 months of the 12 months, the corporate bought 1,352,607 autos, down 0.3% in comparison with a 12 months in the past.
The South Korean producer seems to be experiencing an EV slowdown, as its plug-in gross sales had been down year-over-year for the sixth consecutive month.
The primary half of the 12 months may be tough
In 2023, Hyundai Motor’s international plug-in automobile gross sales exceeded 300,000, growing by 29% in comparison with 2022. To this point this 12 months, plug-in gross sales quantity decreased by nearly a 3rd.
Final month, Hyundai and Genesis plug-in vehicles’ mixed wholesale shipments (that are carefully associated to manufacturing) amounted to *21,605 (down 24% year-over-year).
We estimate that the quantity represents about 6.2% of the automaker’s whole gross sales quantity (in comparison with 8.4% a 12 months in the past).
*Retail gross sales in South Korea and abroad gross sales (primarily based on wholesales on the producer stage) are unaudited and preliminary.
The wholesale quantity of all-electric vehicles decreased by 27% 12 months over 12 months to 17,398, together with 16,458 Hyundai (down 24% 12 months over 12 months) and 940 Genesis (down 57% 12 months over 12 months).
The corporate reviews that its international all-electric automobile gross sales exceeded 19,000, barely exceeding wholesales.
In the meantime, plug-in hybrid automobile quantity amounted to 4,207 (down 7% 12 months over 12 months). Hydrogen gas cell gross sales have been down for 13 straight months.
Wholesale plug-in automobile gross sales final month (YOY change):
- BEVs: 17,398 (down 27%) and 5% share
Hyundai BEVs: 16,458 (down 24%)
Genesis BEVs: 940 (down 57%) - PHEVs (Hyundai): 4,207 (down 7%) and 1.2% share
- Complete plug-ins: 21,605 (down 24%) and 6.2% share
- FCVs (Hyundai): 255 (down 28%) and 0.1% share
To this point this 12 months, the plug-in electrical automobile wholesale shipments amounted to 78,350, down 31% year-over-year. As we famous beforehand, the beginning of the 12 months is fairly weak, however we will additionally notice {that a} 12 months in the past, it was record-strong.
Wholesale plug-in automobile gross sales year-to-date (YOY change):
- BEVs: 66,133 (down 31%) and 4.9% share
Hyundai BEVs: 62,452 (down 29%)
Genesis BEVs: 3,681 (down 54%) - PHEVs (Hyundai): 12,217 (down 31%) and 0.9% share
- Complete plug-ins: 78,350 (down 31%) and 5.8% share
- FCVs (Hyundai): 862 (down 64%) and 0.1% share
For reference, in 2023, plug-in electrical automobile wholesale shipments exceeded 309,000 (up 29% year-over-year), which was about 7.4% of the overall quantity. All-electric automobile quantity nearly reached 260,000 (up 33% year-over-year), accounting for six.2% of the overall quantity.
In the meantime, Hyundai EV gross sales continued to extend in April within the U.S.
Hyundai model
In April, wholesale shipments of the E-GMP-based fashions (Hyundai Ioniq 5, performance-oriented Hyundai Ioniq 5 N, Hyundai Ioniq 6, and Genesis GV60) decreased by 26% 12 months over 12 months to 12,162. That is the eighth month of year-over-year decline in a row.
The highest two all-electric fashions within the lineup are the Ioniq 5 and Kona Electrical. The Ioniq 6 was third, barely forward of the Ioniq 5 N, which simply famous one other 1,000+ models per 30 days.
Prime fashions (wholesale shipments) final month and YTD (YOY change):
- E-GMP BEVs: 12,162 (down 26%) and 45,096 YTD (down 32%)
- Hyundai Ioniq 5: 8,092 (down 25%) and 32,659 YTD (down 14%)
- Hyundai Kona Electrical: 4,850 (down 22%) and 19,041 YTD (down 28%)
- Hyundai Ioniq 6: 2,630 (down 43%) and 6,944 YTD (down 70%)
The hydrogen gas cell mannequin, Hyundai Nexo, bought 255 models final month (down 28% 12 months over 12 months). To this point this 12 months, gross sales have decreased by 64% 12 months over 12 months to 862.
Genesis model
Electrification of the Genesis model continued to disappoint in April. The wholesale shipments in April amounted to 940 models (down 57% year-over-year).
All three Genesis fashions—Genesis Electrified G80, Genesis GV60, and Genesis Electrified GV70—had been down. The highest mannequin was the Genesis GV60, with 554 models in April (down 51% year-over-year) and 1,685 year-to-date (down 64%).
