Hyundai Motor Company (Hyundai and Genesis brands) electrified the automotive scene with thrilling news that its battery electric vehicle (BEV) sales zoomed past the mark of 17,000 units in August 2023, with the iconic Ioniq 5 and Ioniq 6 models accounting for a substantial 70 per cent of these EV numbers.

The South Korean manufacturer reported an impressive figure of 347,377 units in sales for the month of August this year, marking an increase of 3.2 per cent year-over-year. When it comes to EVs, electrifying the market, as it achieved all-electric vehicle sales of more than 17,000 units last month. To be more specific, the Hyundai brand sold 15,846 BEVs (up 23 per cent year-over-year), while the Genesis brand sold 1,614 units (up 23 per cent).

In terms of plug-in vehicles, Hyundai and Genesis’ wholesale shipments soared to 21,547 units in the month under review, representing a jump of 19 per cent year-over-year. This impressive figure accounts for nearly 6.2 per cent of the company’s total sales volume, a notable growth from the previous year's 5.8 per cent.

What is truly striking about last month’s result is that approx. 70 per cent of the total BEV sales (approx. 12,600 units) were because of high demand for the popular Ioniq 5 and Ioniq 6 electric models.

As all-electric car sales volume soared 23 per cent to 17,460 units and plug-in hybrid car volume grew by 5 per cent to 4,087 units, total plug-in car sales last month crossed the mark of 21,000.

However, sales of hydrogen fuel cell vehicles (FCVs) faced a steep decline of 70 per cent, with the south Korean manufacturer shipping only 300 units. This sub-segment accounted for merely 0.1 per cent market share.

When it comes to year-to-date (YTD), the company’s wholesale shipments of plug-in electric passenger vehicles easily exceeded 218,000 units, constituting nearly 7.9 per cent of the total automotive sales volume. It also highlighted the growing significance of electrified mobility in the fast-expanding automobile industry.

For reference, Hyundai made a significant stride in the EV market in 2022 as it achieved remarkable sales figures. The company sold more than 240,000 plug-in electric cars, showcasing a substantial 45 per cent year-over-year surge. Among these, approximately 195,000 units were all-electric vehicles, which represented an impressive 56 per cent growth. This data underscores Hyundai's robust commitment to electrified mobility and its nonstop growth in the sector.