If November numbers are any indication, Kia and its parent company Hyundai are having a very good year of EV sales. This week, Kia celebrated its strongest November US sales month on record, while Hyundai surpassed its previous US November sales record with notable help from the IONIQ5 and Kona EV. This momentum comes after Hyundai Motor Group announced plans to invest US$7.4 billion to scale up its US electric vehicle program in last year.
Following the passing of the Inflation Reduction Act in August, Hyundai rapidly accelerated its plans to build an EV factory in the US by breaking ground on a US$5.5 billion electric vehicle plant in Bryan County, Georgia, in October. Clearly, that investment is already paying dividends. Over the month of November, Kia’s EV sales increased 133 per cent compared with last year, driving total US sales 8 per cent higher than the previous record set in 2016.
“Our electrified offerings posting double or triple-digit sales increases for the fifth consecutive month, we are confident that we will end the year strong, and this positive sales momentum will carry through to 2023,” shared Eric Watson, VP of sales operations for Kia America.
At the same time, Hyundai has seen an increase in demand for its fan-favourite EVs, with Kona EV sales growing 113 per cent YOY, and IONIQ5 sales increasing to 1,191 in November for a total of 21,262 so far this year.