[RahulNagaraj]

According to reports, Hyundai Motor Group has managed to sell more all-electric cars than any other carmaker in the USA, excluding Tesla. The South Korean brand sold 28,556 EVs plus an unreleased number of Kona Electric in Q3 of 2023.

Hyundai outsold its American rivals, Ford and General Motors, which recorded 20,962 units and 20,092 units, respectively. GM was even beaten by Volkswagen, which managed to sell 20,295 units during the same period.



Hyundai Motor Group, which includes Hyundai, Kia & Genesis brands, managed to register high numbers despite being excluded from the $7500 federal tax credits. Reports suggest, that with Hyundai planning to start local production of its mainstream models in the USA, the applicable tax credits will soon make it an even stronger contender in the EV segment. This can be seen with Volkswagen, whose ID.4 being locally produced and fully eligible for the tax credits, is able to help the German carmaker push to over 20,000 units.



Reports also note that in the year-to-date EV sales volume, Hyundai Motor Group is the largest automaker after Tesla in the USA, with 61,865 units of sales. General Motors is in second with 56,414, with Volkswagen (49,995 units) overtaking Ford (46,671 units).

These numbers though are heavily overshadowed by Tesla, which in Q3 is said to have managed to sell close to half a million EVs.

Source: InsideEVs

Link to Team-BHP news

[ferrarirules]

Originally Posted by RahulNagaraj

According to reports, Hyundai Motor Group has managed to sell more all-electric cars than any other carmaker in the USA, excluding Tesla. The South Korean brand sold 28,556 EVs plus an unreleased number of Kona Electric in Q3 of 2023.

While all US manufacturers are crying about falling demand for EV vehicles. This is actually the story, they are losing sales to competition because competition has built ground up EVs which are features rich and provide a good range. Also, they are expanding their portfolio over the years. Hyundai has Kona, Ioniq 5, Ioniq 6 on sale. Kia has Niro, Soul and EV6 on sale and they recently added EV9 which has become an instant success. And Ioniq and EVx are ground up EV models.

On the contrary what do GM and Ford have, GM is selling Bolt (aged model) and rest is all under development. Ford has F150 lightning or Mustang Mach-E on sale. F150 is hampered by production capacity. And Mustang Mach-E is a niche car.

[GutsyGibbon]

Originally Posted by ferrarirules

While all US manufacturers are crying about falling demand for EV vehicles. This is actually the story, they are losing sales to competition. And Mustang Mach-E is a niche car.

Right now, Ford is losing $25k per every car they sell, so it is not really in their best interest to sell more, with the existing supply chain. They need to invest more bring their own battery plant online. Just don't see them turning around anytime soon.

In the unlikely case of the doors opening to BYD, Nio, etc it will be game over. I guess that depends on the next election.

[ferrarirules]

Originally Posted by GutsyGibbon

Right now, Ford is losing $25k per every car they sell, so it is not really in their best interest to sell more, with the existing supply chain. They need to invest more bring their own battery plant online. Just don't see them turning around anytime soon.

In the unlikely case of the doors opening to BYD, Nio, etc it will be game over. I guess that depends on the next election.

Yes another point showing the fact that they were not prepared for the EV onslaught. And when it happened, they jumped into it half prepared and are paying the price for it.

So them losing numbers to players who put in years of prep into EV tech is a reflection of how badly the US car giants are being steered over the years.