- The Hyundai Ioniq 5 defied the American EV market in the first quarter.
- Despite most automakers seeing negative sales numbers for their EVs in the U.S., the Ioniq 5 posted double-digit increases.
- The American-made Ioniq 5 jumped in March and in the first quarter.
Hyundai posted its best-ever first-quarter sales in the United States, thanks in no small part to the success of the Ioniq 5 electric crossover.
The American-made EV, which starts from $36,600, saw double-digit jumps in both March sales and first-quarter sales, defying the market and proving yet again that a well-packaged, decently-sized, and good-priced EV will sell well even without the $7,500 federal tax credit.
The Ioniq 5 was a finalist in last year’s Breakthrough Awards
Photo by: Patrick George
The Ioniq 5 gained 13% in March compared to the same month last year, with year-over-year quarterly sales jumping 14%. Last month, Hyundai sold 4,425 Ioniq 5s in the U.S., with 9,970 units reaching new customers from January through March.
In fairness, these are not huge numbers, but they’re still better than some of the competition and some of Hyundai’s gas-powered cars. The Ioniq 5 sold better than the Venue and Santa Cruz, but that’s about it. Still, it’s by far the best-performing EV in Hyundai’s U.S. portfolio, with the Ioniq 9 SUV seeing 1,990 sales in the first quarter.
Meanwhile, the Ioniq 6 sedan fell flat with just 829 units sold in three months, down 75% year over year. After seeing these numbers, it’s no surprise that Hyundai discontinued the regular Ioniq 6 trims in the U.S. last month, leaving just a limited number of the high-performance Ioniq 6 N on offer.
It’s worth noting that the Ioniq 5, which is assembled in Georgia, is the cheapest of the three, so that may have had something to do with its sales momentum. It’s $1,250 more affordable than the Ioniq 6 and offers more trunk space, as well as a more airy cabin, with more room for rear passengers. The fact that it’s a souped-up hatchback might help, too.
Overall, Hyundai’s U.S. sales climbed 1% in the first quarter, reaching 205,338 units. Meanwhile, March sales dipped 3%, going down to 84,087 cars.
