Hyundai is showing no signs of slowing down in the US EV market after a record-breaking second quarter. The Hyundai IONIQ 5 and IONIQ 6 both set new Q2 sales records as demand for long-range EVs at an affordable price continues to climb in the US.
Hyundai IONIQ 5 tops Q2 sales record in the US
After setting a new May sales record, Hyundai’s electric SUV continued its hot streak last month. Hyundai sold 3,755 IONIQ 5 models in the US last month (+20% YOY), a new June record.
Although it’s down slightly from the 4,449 sold in May, the growth was enough to push Hyundai’s IONIQ 5 to a new Q2 sales record. Hyundai sold 11,906 IONIQ 5s in the second quarter of 2024, up 51% from the 7,905 handed over at this time last year.
Hyundai has now sold 18,728 IONIQ 5 models through the first half of 2024, an increase of 37% over last year.
The IONIQ 5 wasn’t Hyundai’s only EV with a new sales record. With 3,266 models sold (+8% YOY), Hyundai’s IONIQ 6 also set a new Q2 sales record. Hyundai’s overall EV sales climbed 15% in Q2.
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| January | February | March | April | May | June | 2024 YTD Total | % Chg YTD | |
| Hyundai IONIQ 5 sales | 1,465 | 1,993 | 3,361 | 3,702 | 4,449 | 3,755 | 18,728 | +37% |
The news comes after Kia set a new Q2 EV sales record as demand for its three-row EV9 and low-cost EV6 continues climbing.
Hyundai Motor America CEO Randy Parker said the strong demand for the IONIQ 5 helped drive growth in Q2.
In a recent interview with Electrek, Parker told us Hyundai is “humble and hungry” to distance itself from the EV pack and close the gap with Tesla.
Parker explained that Hyundai is giving buyers confidence to go electric with long-range, fast-charging EVs at an affordable price. Hyundai has six of the top ten most fuel-efficient EVs in the US this year by trim.
|
2024 Hyundai IONIQ 5 trim |
Starting Price (excluding destination fee) |
Price after potential $7,500 EV tax credit (excluding destination fee) |
Range (EPA est miles) |
| SE Standard Range | $41,800 | $34,300 | 220 |
| SE | $45,850 | $38,350 | RWD: 303 AWD: 260 |
| SEL | $47,400 | $39,900 | RWD: 303 AWD: 260 |
| Limited | $53,500 | $46,000 | RWD: 303 AWD: 260 |
| D100 | $59,400 | $51,900 | 260 |
Meanwhile, the 2024 IONIQ 5 is now more affordable to lease than the cheapest car in the US.
Although the Nissan Versa starts at under $18,000, the IONIQ 5 is cheaper to lease at $229 per month for 24 months. And that’s for the 2024 Hyundai IONIQ 5 SEL RWD with up to 303 miles range.
If you’re in the market for a new EV, there’s never been a better time to start shopping. You can use our links below to view deals on Hyundai’s EVs at a dealer near you.
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