If you’re seeing more electric Hyundai SUVs out and about, it’s not just you. Hyundai Motor America sold a record number of IONIQ 5 models in May as EV sales continue trending higher.
Hyundai IONIQ 5 is on a hot streak with record May sales
After launching in the US in 2022, Hyundai’s first dedicated EV, the IONIQ 5, has continued climbing the sales charts.
With nearly 34,000 models sold, the IONIQ 5 was the sixth best-selling EV in the US last year. It was only outsold by the VW ID.4, Ford Mustang Mach-E, Chevy Bolt EV, Tesla Model 3, and Tesla Model Y.
Hyundai has continued its hot streak this year despite talk of an “EV slowdown.” IONIQ 5 sales reached a new record in March, with 3,361 models sold, up 58% year over year (YOY).
The growth pushed Hyundai to a new first-quarter EV sales record, climbing 62% YOY. In April, Hyundai sold 3,702 IONIQ 5s, up 59% YOY.
Hyundai has carried the momentum into May, with IONIQ 5 sales reaching 4,449, setting another new monthly record. Through the first five months of the year, nearly 15,000 IONIQ 5s have been handed over to customers in the US. That’s up 43% from the 10,505 sold at this time last year.
| January | February | March | April | May | 2024 YTD Total | % Chg YTD | |
| Hyundai IONIQ 5 sales | 1,465 | 1,993 | 3,361 | 3,702 | 4,449 | 14,973 | +43% |
Sales of the IONIQ EV brand were up 42% in May, with 1,099 IONIQ 6 models sold. Hyundai IONIQ 6 sales are also up 188% YOY through May.
In an exclusive interview with Electrek last month, Hyundai America CEO Randy Parker said the automaker is “humble and hungry” to separate itself from EV rivals.
The automaker already has six of the top ten most fuel-efficient EVs in the US this year, according to the US Department of Energy, but Parker explained Hyundai aims to give consumers even more confidence.
Hyundai wants to give buyers the confidence to go electric with long-range, fast-charging, and boldly designed EVs, like the IONIQ 5, IONIQ 6, and upgraded Kona Electric.
Hyundai is opening its first EV and battery plant in the US later this year, which is expected to spark even more momentum.
Once EV production is ready at the plant in October, Hyundai will begin assembling the IONIQ 5 in the US. Although the battery unit will open about a year later, Hyundai expects the IONIQ 5 to become eligible for the $7,500 tax credit. In the meantime, Hyundai has been passing the credit on through leasing.
Hyundai EV drivers will also have access to Tesla’s Supercharger network by the end of the year. Parker said Hyundai will begin shipping NACS adaptors out in Q1 2025.
Electrek’s Take
Despite US rivals like Ford and GM pulling back on EV initiatives, Hyundai is doubling down on its strategy, Parker told Electrek.
Top comment by Dean Myerson
My brother returned his Model Y a few months ago and got an Ioniq 5. His first reaction was that the MY was the better car, but the Ioniq 5 was good enough and the dealer made him an offer he couldn't refuse.
But a few months on, he says the Ioniq 5 continues to grow on him and is a much better vehicle than he realized. He was particularly blown away by it being even more customizable than the MY was. He keeps running into more options. He now says that Tesla decides things for you, and Hyundai lets you decide.
I am waiting for the XRT trim.
Hyundai’s EV sales are already outpacing those of its rivals. What will happen when US production begins, and Hyundai’s EVs gain access to the $7,500 federal tax credit?
With some of the most affordable and fuel-efficient EVs on the market already, Hyundai is making its presence known. The upgraded 2024 Kona Electric with more range, faster charging, and a sleek new design starts at under $33,000. Hyundai’s IONIQ 6 starts at $37,500, while the IONIQ 5 starts at $41,800. All of which are listed with a $7,500 Featured Cash Offer.
The automaker’s first three-row electric SUV, the IONIQ 9, is expected to make its global debut later this year. Hyundai’s larger electric SUV has already been spotted testing in the US (see the video here).
If you’re ready to see what Hyundai’s electric vehicles are all about at some of the lowest prices yet, we can help you get started today. You can use our links below to find deals on Hyundai EV models at a dealer near you.
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