As new models like the three-row EV9 and low-cost EV3 roll out, Kia’s EV sales are surging. Although it sold over 200,000 EVs last year, Kia expects to sell even more electric cars in 2025 as it builds a “full lineup of popular EVs.” Here’s what to expect this year.
After announcing Q4 2024 results on Friday, Kia said it expects to see even more growth in 2025 with new low-cost EVs launching.
Kia sold nearly 770,000 vehicles globally in the fourth quarter, up 5% from the year before. The biggest growth driver was eco-friendly cars, including electric and hybrid vehicles. Kia’s eco-friendly car sales rose 14.5% in Q4 to around 164,000.
Hybrid sales reached roughly 100,000 in the quarter, an increase of 31.7% from Q4 2023. The new Carnival Hybrid in the US and the K8 Hybrid in Korea led the way.
Kia’s electric and hybrid vehicles accounted for 21.5% of sales in the final three months of 2024, up from 19.9% in Q4 2023.
The company sold about 638,000 eco-friendly cars in total in 2024. This included 367,000 hybrids (+20% YOY), 71,000 plug-in hybrids (-19.5% YOY), and 201,000 EVs (+10.2% YOY).
Kia says new EVs will boost sales growth in 2025
Kia expects annual sales to grow another 4% in 2025 to 3.216 million units, up from 3.089 million last year. The confidence is due to higher expected sales in Europe and North America with new hybrids and EVs launching.
After launching the compact EV3 SUV last year, the first of its new low-cost electric car lineup, Kia will follow it up with the EV4. Kia confirmed it will launch the EV4 “sequentially around the world. The EV4 is Kia’s take on a mass-market electric sedan.
The EV3 and EV4 were concepts showcased next to its EV5 SUV during Kia’s first EV Day in October 2023. Kia said the new lower-cost models reaffirmed “its ambitious global strategy to lead and accelerate the EV revolution.”
Kia launched the EV5 in China in late 2023, starting at around $20,000. According to a report from Korea’s Newsis earlier this month, the EV5 is already making a massive impact in the world’s largest EV market.
Weda Kia, the company’s Chinese joint venture, sold over 248,000 vehicles last year, nearly 50% more than in 2023. Last year was the first time Kia crossed the 200,000 sales mark in China since 2020. Kia plans to launch the EV5 in Korea this year, followed by other overseas markets.
Kia’s EV3 starts at around $30,000 in Korea (KRW 42.08 million). In November, Kia launched the smaller electric SUV in Europe, starting at around $38,000 (36,000 euros) with up to 375 miles WLTP range.
The EV4 is expected to start at around $30,000 to $40,000, depending on the market. It will join the updated EV6, three-row EV9, smaller EV3 and EV5 SUVs to complete its “full lineup of popular EVs.” Ahead of its arrival, the EV4 was recently spotted testing in the US for the first time. A hatchback version was also caught out in public, likely aimed at European buyers.
Adding to the mix, Kia will launch its first electric van (Purpose-Built Vehicle) in 2025. The Kia PV5 is a mid-size electric people mover that will come in different setups: basic (for passengers), van (for deliveries), and chassis Cab (like a pickup truck bed). As Kia expands into commercial electric vans, it will be joined by the bigger PV9 and smaller PV1.
FTC: We use income earning auto affiliate links. More.
Comments