Hyundai Plug-In Car Wholesale Shipments Exceeded 20,000 In May 2022

Electric Cars

Hyundai reports that its global vehicle sales in May amounted to 324,039 units, which is 0.5% less than a year ago. During the first five months of 2022, the company sold 1,536,865 vehicles (down 8.2%).

Despite business uncertainties around the world, the company is consistently increasing its plug-in electric car sales and expanding its EV lineup.

Last month, Hyundai plug-in car wholesale shipments (closely related to production) increased to *20,451 (up 53% year-over-year), which is another new monthly record. We estimate that it’s also about 6.4% of the company’s total wholesale volume (a new high).

*Retail sales in South Korea plus wholesale sales (manufacturer level) outside South Korea, unaudited and on a preliminary basis.

**The Hyundai sales report includes sales numbers from the plants in South Korea, Europe (Kona Electric and Tucson PHEV), Indonesia (Ioniq 5 2nd assembly site), and plants in China and India (both small numbers).

Hyundai’s electrification is booming, as all-electric sales improved to a new monthly record, while plug-in hybrids and hydrogen fuel cell vehicles are at near-record levels.

Wholesale shipments volume by powertrain type:

  • BEVs: 15,661 (up 64%)
  • PHEVs: 4,790 (up 27%)
  • Total plug-ins: 20,451 (up 53%)
  • FCVs: 1,333 (up 48%)

On top of that, Hyundai’s Genesis premium brand noted over 2,000 units for the very first time (GV60, GV70 EV and G80 EV).

So far this year, Hyundai’s plug-in electric car wholesale shipments amounted to over 82,000 (up 80% year-over-year), which represents 5.3% of the total wholesale volume.

Wholesale shipments volume by powertrain type YTD:

  • BEVs: 62,716 (up 89%)
  • PHEVs: 20,025 (up 37%)
  • Total plug-ins: 82,741 (up 73%)
  • FCVs: 4,098 (down 5%)

The E-GMP-based Hyundai Ioniq 5 glided at over 9,000 units in May. So far this year, the company produced some 40,000 units, while cumulatively it is above 105,000 in 14 months.

Since April, this important model (Ioniq 5) has been assembled also in Indonesia (Hyundai Motor Manufacturing Indonesia plant), but initially at a low three-digit number. Time will tell how high it will go there. The main production takes place at the Ulsan Plant 1 in South Korea.

Interestingly, the Hyundai Kona Electric noted its best monthly result in over 1.5-years, while the Hyundai Tucson PHEV set a new record.

Model results (wholesale shipments) last month (and year-to-date):

The hydrogen fuel cell model — Hyundai NEXO — noted 1,333 units (4,098 YTD).

The E-GMP based Genesis GV60 BEV continues at over 1,000 units per month, reaching 1,183 last month (4,070 YTD). The company noted also 544 GV70 EV (1,053 YTD) and 434 G80 EV (1,473 YTD).

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