Hyundai BEV Wholesale Gross sales Present No Progress In November 2023


Hyundai Motor Firm (Hyundai and Genesis manufacturers) international car gross sales in November amounted to 365,576, which is 5.0% greater than a 12 months in the past. Yr-to-date, the corporate bought over 3.8 million automobiles (up 7.6% year-over-year).

Sadly, November didn’t carry any progress on the electrification entrance because the numbers have been similar to those from a 12 months in the past—really a bit decrease.

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Final month, the mixed wholesale shipments (that are carefully associated to manufacturing) of Hyundai and Genesis plug-in automobiles amounted to *24,149 (down 3% year-over-year). We estimate that it’s round 6.6% of the automaker’s complete gross sales quantity (in comparison with 7.1% a 12 months in the past).

*Retail gross sales in South Korea plus abroad gross sales (based mostly on wholesales; on the producer degree), unaudited and on a preliminary foundation.

The info signifies that all-electric automotive quantity decreased by 3% year-over-year to twenty,794, together with 19,911 Hyundai BEVs (up 0.2% year-over-year) and 883 Genesis (down 46% year-over-year). Plug-in hybrid automotive quantity additionally stays steady at 3,355 (up 0.7% year-over-year).

An fascinating discovering is that the wholesale shipments of the E-GMP-based Hyundai and Genesis automobiles in November decreased by virtually 13% year-over-year to 13,137 (it was the third consecutive small drop year-over-year). That is additionally lower than within the case of the record-high results of the sister model Kia, which famous 16,916 E-GMP-based automobiles (up 118% year-over-year).

The final three months didn’t carry any important progress in BEV gross sales for Hyundai, and the outcomes are inferior to within the first half of the 12 months. It will likely be very fascinating to see whether or not the quick progress will return in December or in early 2024.

When it comes to retail gross sales, issues may nonetheless be constructive (retail gross sales normally lag behind wholesale gross sales), as Hyundai Motor studies greater than 16,000 all-electric automotive gross sales in November.

Wholesale plug-in automotive gross sales final month (YOY change):

  • BEVs: 20,794 (down 3%) and 5.7% share
    Hyundai BEVs: 19,911 (up 0.2%)
    Genesis BEVs: 883 (down 46%)
  • PHEVs (Hyundai): 3,355 (up 0.7%) and 0.9% share
  • Complete plug-ins: 24,149 (down 3%) and 6.6% share
  • FCVs (Hyundai): 234 (down 80%) and 0.1% share

Up to now this 12 months, the plug-in electrical automotive wholesale shipments exceeded 290,000, which is about 7.5% of the full quantity.

Wholesale plug-in automotive gross sales year-to-date (YOY change):

  • BEVs: 242,841 (up 40%) and 6.3% share
    Hyundai BEVs: 224,826 (up 45%)
    Genesis BEVs: 18,015 (up 2%)
  • PHEVs (Hyundai): 47,897 (up 12%) and 1.2% share
  • Complete plug-ins: 290,738 (up 35%) and seven.5% share
  • FCVs (Hyundai): 4,472 (down 56%) and 0.1% share

For reference, in 2022 Hyundai Motor Firm bought greater than 240,000 plug-in electrical automobiles (up 45% year-over-year), together with almost 195,000 all-electric (up 56%). The 12 months 2023 is already a lot better, however the progress charge slowed down.

Hyundai model

In November, wholesale shipments of the E-GMP-based fashions (Hyundai Ioniq 5, Hyundai Ioniq 6, and Genesis GV60) decreased by 13% year-over-year to 13,137.

The highest three all-electric fashions within the lineup stay the identical: the Ioniq 5, Kona Electrical, and the Ioniq 6.

Prime fashions (wholesale shipments) final month and YTD (YOY change):

  • E-GMP BEVs: 13,137 (down 13%) and 167,869 YTD (up 53%)
  • Hyundai Ioniq 5: 9,632 (down 5%) and 104,831 YTD (up 17%)
  • Hyundai Kona Electrical: 7,021 (up 22%) and 66,774 YTD (up 31%)
  • Hyundai Ioniq 6: 3,190 (down 18%) and 52,953 YTD (up 416%)

The hydrogen gas cell mannequin — Hyundai Nexo — famous 234 models final month (and 4,472 YTD). Its gross sales fall fairly considerably.

Genesis model

The Genesis model continued to wrestle within the all-electric automotive phase, as its wholesale shipments amounted to solely 883 models (down 46% year-over-year), which is the bottom month-to-month consequence since February 2022. The year-to-date quantity is eighteen,015 (up 2% year-over-year).


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