Hyundai and Kia’s sales slowed in April even as EV interest grew

Despite recording weaker sales in the United States last month, Hyundai Motor North America and Kia America saw interest in their electric offerings grow.

Overall, Kia sold 65,754 vehicles last month, a 3.6% decline that marked its fifth consecutive month of decline. The K5 sedan took the heaviest hit in April; just 333 units were sold, down from 5,035 in 2023.

Hyundai took a 3% hit to 68,603 units sold in April after two months in a row of gains. Sales of the Santa Fe and Tuscon SUVs dropped 11% and 16%, respectively, while Hyundai recorded a 24% drop in Elantra compact car sales.

Genesis, the luxury car arm of the Hyundai Motor Co., recorded a nearly 6% sales hit in April after 17 consecutive months of sales increases, Automotive News reports. It’s biggest decline came in GV70 sales volume.

April was Kia’s best month ever for electric vehicles with 3,623 units sold, a 61% increase over its prior record set in April 2022. Sales were driven by interest in the EV9, an electric SUV that was first available for preorder last October. The automaker sold 1,572 units of the EV, taking total sales for the year to 5,579.

The EV9 is is the most expensive model Kia has offered and does not yet qualify for the $7,500 tax incentive created by the Inflation Reduction Act because it’s imported from South Korea. That’s why Kia earlier this month said it would offer a $7,500 incentive to reduce the price and — separately — offer financing rates between 0 and 3%. However, buyers can only pick one of those incentives.

That left sales of the EV9 trailing behind the cheaper EV6, which climbed 65% year-over-year to 2,051 units sold.

“The impressive sales momentum generated by Kia’s EV and electrified models in the first quarter continued to accelerate in April with best-ever EV and SUV performances,” Eric Watson, Kia’s vice president of sales operations, said in a statement.

Hyundai’s EV sales grew 26% in April, pushed higher by greater interest in the Ioniq 5 crossover SUV and Ioniq 6 mid-size car. Ioniq 5 sales climbed 59% last month, while Ioniq 6 sales grew 41%. The automaker also recorded strong interest in its hybrid offerings, led by the hybrid Tuscon’s 44% sales increase.