On the Dash:
- Cox forecasts Hyundai Motor Group Q3 sales of 511,421, up 6.5% year over year.
- Hybrids hit a record 29% of Hyundai brand sales in August, up 33%.
- Ioniq 5 and Ioniq 6 sales fell sharply in August after the EV tax credit ended.
Surging hybrid sales have Hyundai Motor Group on track to sell 511,421 U.S. vehicles this quarter, up 6.5% from a year ago, according to a forecast by Cox Automotive.
The third-quarter total would also be up 4.4% from the second quarter. That’s enough to put the group ahead of Ford for the first time, Cox said, as Asian brands gain share on the Detroit 3. Cox projects the group’s sales through September at 1,431,804 units, up 4.3%. Its market share would rise to 11.9% from 11.2% a year earlier.
Hybrids reach a record share at Hyundai
Hybrids made up a record 29% of Hyundai Motor America’s August volume, according to the company’s monthly sales report. Hybrid sales rose 33% from a year earlier. Electrified models, including EVs, accounted for 34% of the brand’s 86,977 sales for the month.
Hyundai’s highest-volume crossovers set the pace. Tucson sales rose 18% to 21,197 units, and Santa Fe climbed 5% to 13,512. Both posted their best August on record. Among cars, Elantra sales rose 16% to 17,747, while Sonata jumped 44% to 6,899.
Meanwhile, sales of other major nameplates slipped. Palisade sales fell 18% in August, Kona dropped 13% and Santa Cruz declined 28%. Total August volume finished 2% below last year.
A record first half set the pace
Hyundai’s hybrid growth dates back to the spring. The brand posted its best-ever June, second quarter and first half, according to its July sales report. June sales rose 11% to 77,555 units, and second-quarter sales climbed 4% to a record 245,180.
Hybrid sales rose 74% in June, 71% in the second quarter and 67% for the first half. Hyundai credited the Tucson, Santa Fe, Elantra and Sonata hybrids for the gains. Electrified models made up 33% of first-half sales.
The brand’s momentum has carried into the second half. Through August, Hyundai sales totaled 620,025, up 2% from a year earlier. Tucson leads the lineup with 158,523 sales, up 7%. Elantra is up 12% year to date, and Sonata is up 17%.
EV sales slide as hybrids take over
Hyundai’s battery-electric models have moved in the opposite direction since the federal EV tax credit ended. Ioniq 5 sales fell 51% in August to 3,818 units. Ioniq 6 sales dropped 97% to 28 units, and Ioniq 9 sales fell 42%.
Hybrid demand kept the brand’s electrified share at 34% in August, said Randy Parker, President and CEO of Hyundai Motor North America. The hybrid share of sales hit a record for the month, according to Parker.
The three-row Ioniq 9 remains a bright spot on a year-to-date basis. Its sales nearly doubled to 6,147 units through August, up 98% from a year earlier. Ioniq 5 sales are down 14% for the year.
