Skyrocketing Hyundai Electric Vehicle Sales Among Americans, but Potential Issues Emerge
Hyundai Motor America has announced record-breaking sales for August, with a total of 88,523 units sold, marking an all-time high for the company. Among the key models that contributed to this success were the Elantra HEV, Palisade, and Ioniq 5.
General Motors (GM) also reported a significant increase in electric vehicle (EV) sales for the month of August. Hyundai's popular SUVs, including the Elantra N, Elantra Hybrid, Santa Fe Hybrid, Santa Fe family, Palisade, and Ioniq 5, all achieved record August sales.
Hyundai's EV sales saw a substantial 72% year-over-year increase, with the Ioniq 5 sales jumping 61% to 7,773 units. The Ioniq 6 sales also increased by 30% to 1,047 units. The Palisade, with its redesigned boxy design and classier cabin, saw a 39% increase in sales compared to the previous year. The Ioniq 9 found 1,016 takers.
The Palisade, available in both mainstream and hybrid variants, offers impressive performance. The mainstream variant is powered by a 3.5-liter V6 engine, producing 287 hp (214 kW / 291 PS) and 260 lb-ft (352 Nm) of torque. The starting price for the Palisade is $38,935, while the new hybrid version, starting at $43,660, offers a turbocharged 2.5-liter four-cylinder engine, a 1.65 kWh lithium-ion battery pack, a six-speed automatic transmission, and two electric motors, resulting in a combined output of 329 hp (245 kW / 334 PS).
The hybrid Palisade boasts a fuel economy rating of up to 34 mpg, making it an attractive option for those seeking a balance between performance and efficiency. However, sales of Ioniq models may decrease following the elimination of the tax credit.
Randy Parker, the current CEO of Hyundai Motor North America, expressed pride in the record-breaking sales of these key models. As CEO of Genesis Motor North America as well, Parker led the company to its best year yet, with record sales of the Elantra HEV, Palisade, and Ioniq 5.
