US: Hyundai Ioniq 5 Sales Decreased To The Lowest Level Since January via insideevs.com
In November, Hyundai Motor America sold 63,305 vehicles, which is not only a 43% increase year-over-year, but also the best ever November.
The company still has some work to do, as the year-to-date result after 11 months is 5% lower than in 2021, at 652,207, but at least it seems that Hyundai solved most of its supply issues in recent months and delivers a consistent growth in sales volume.“This was a terrific November for sales and especially our line-up of eco-friendly vehicles. Despite economic headwinds, we were still able to record an all-time retail and total sales record in November.
The South Korean manufacturer reports that several of its electrified models set new monthly records - including the Elantra HEV, Santa Fe HEV, Tucson HEV and the new 2023Hyundai Ioniq 5 sales do not have such a reason to celebrate, as its sales continue to decrease almost every month since June. Last month, 1,191 units were delivered , which is the lowest level since the market launch.
We guess that the Inflation Reduction Act of 2022 , which caused the lack of the eligibility for the $7,500 federal tax credit for new orders , affected the Ioniq 5.So far this year, Hyundai Ioniq 5 sales in the US exceeded 21,000 . Because of the recent slowdown, it's now unlikely to exceed 23,000 units in 2022., which combined with a probable lack of eligibility for the $7,500 federal tax credit, might keep the South Korean EV below its initial expectations.
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