Hyundai IONIQ 5 sets new US sales record in March as EV sales surge 100%

Hyundai’s IONIQ 5 just set a new March and Q1 sales record as EV sales climbed 100% last month. The company had its best-ever first quarter and March sales as demand for its EVs remains high.

Hyundai IONIQ 5 EV sets new March, Q1 US sales record

Hyundai continues building momentum in the US with its lineup of dedicated EVs, including the IONIQ 5, IONIQ 6, and Kona EV.

Despite rising competition and interest rates, the automaker achieved record-breaking March and Q1 sales. “Demand for our vehicles, especially EVs, remains high,” Hyundai Motor America CEO Randy Parker explained.

After climbing to become the sixth best-selling EV in the US last year, Hyundai’s IONIQ 5 is not slowing down.

Hyundai’s EV sales doubled (+100%) in March, and the IONIQ 5 set a new record with 3,361 models sold. That’s up 58% from the 2,114 IONIQ 5s handed over last March. First-quarter EV sales also hit a new record, climbing 62% compared to Q1 2023.

Through the first three months of the year, Hyundai has sold 6,822 IONIQ 5 models, up 18% from last year, setting another record.

Hyundai’s other dedicated EV, the IONIQ 6, also saw higher demand. IONIQ 6 sales reached 1,984 in March (+794% YoY) for a total of 3,646 in Q1.

The release comes after EV startup Rivian announced this morning it delivered 13,588 vehicles in Q1 as it preps to shutdown its Normal, IL manufacturing plant for upgrades.

Tesla missed expectations by a wide margin with 386,810 EVs delivered in Q1, compared to the consensus of around 431,000.

The Kona EV, one of the most affordable electric cars in the US, with starting prices under $33,000, also had its best-ever Q1 sales. Hyundai upgraded the Kona EV in 2024 in every way with more range, faster charging, and a sleek design.

Hyundai’s new sales records come after slashing EV prices and offering significant incentives. The Hyundai IONIQ 6 and Kona EV are two of the cheapest vehicles (EV or gas-powered) to lease, starting at just $169 per month.

The IONIQ 6, according to a new report from Boston Consulting Group, is the only EV that meets potential buyers’ price, range, and charging targets. Tesla’s Model 3 was the next closest to hitting the threshold.

If you’ve been eyeing Hyundai’s fully electric vehicles, now may be the best time to start shopping. We can help you get started today. You can use our links below to find great deals on Hyundai’s electric models at a dealer near you.