Hyundai and Kia EV Sales Jump 25% in First Half Despite Market Slowdown

The numbers tell a clear story. Hyundai Motor Group saw a remarkable 25.3% year-on-year surge in electric vehicle sales during the first half of this year. This momentum comes at a time when the global market is visibly cooling down.

Hyundai and Kia Reach 370,000 Electric Units

Data released by SNE Research on Thursday shows that combined EV sales for both Hyundai Motor and Kia reached 370,000 units over the first six months. The figure highlights strong demand for models like the Elantra electric, Tucson, and Seltos, despite fierce competition. the group's growth outpaced the global market average by more than four times.

Eighth Place Globally Despite Growth

Yet not everything is rosy. Despite the surge, the group slipped one spot to eighth place globally among manufacturers, overtaken by China's Chery. That sold 383,000 vehicles with a 29.7% increase. The global EV market grew just 5.5% to 9.9 million units, while the Korean group's market share rose from 3.1% to 3.7%.

Meanwhile, BYD continues to lead the pack despite a 20.7% sales decline to 1.5 million units. The Chinese giant's market share dropped from 20.1% to 15.1%, a sign of intensifying competition from new players. By all measures, Hyundai still has plenty of fight left.