While Tesla is still leading the charts in terms of sales, Hyundai and Kia are zooming past the other EV competitors in the market. Both the Hyundai Ioniq 5 and Kia EV6 have outsold every other EV model offering in the US apart from Tesla, and that’s a growth of epic proportions in the EV industry.
Even the Ford Mustang Mach-E was beaten
Collectively, a total of 21,467 units of the Ioniq 5 and EV6 were sold in the US from the start of 2022 until the month of May. That’s a heck of a lot more compared to America’s top brand, Ford, and its first-ever EV model, the Mustang Mach-E. They only managed to convince 15,718 new owners in the first five months of this year.
The Korean duo also drove past the Nissan Leaf, Chevrolet Bolt, and other EV models to a point where even Tesla’s Elon Musk was impressed at the speed of their growth in such a short period of time. Dealers currently do not have any of these EVs in stock, and when they do, they’re sold out within hours paired with a waiting period of around six months.
Great timing + good specs + great prices = sales
There are currently over 30 EV models that you can find in the fast-growing US market, but only a small number of that is priced under the $45,000 (around RM202,650) mark. Hyundai and Kia are able to deliver under these prices as well as offer something that a lot of folks actually want – tech and space.
Other EVs within that price range can’t even compete with the Ioniq 5 and EV6 in terms of cargo space as well as some other vital features like faster-charging capabilities, well-equipped interior, and some unique specs that no other EVs have like its bi-directional power (can be used to power electrical items or even charge other EVs).
Based on an article posted by Bloomberg, the Korean EV offerings are pulling in buyers with smaller budgets that usually cater to entry-level ICE sedans. Looking at both the Ioniq 5 and EV6 as a whole, they present a perfect recipe for those looking into jumping onto the EV bandwagon as well as navigating away from the increasing petrol prices in the country.
And it shows as three out of four new Kia EV6 owners came from another brand, and what’s even more amazing is the fact that only 1 out of 10 used to own PHEVs. The rest? Good ol’ ICEs and Hyundai and Kia were convincing enough to pull them onboard even when dealers are selling them above the actual recommended retail prices. Korea at its best, folks.