The Korean auto giant witnessed a significant 93% rise in sales on a year-on-year basis in its all-electric offerings.
The global EV sales of Kia have experienced a record high in May 2024. Hyundai Motor Group is emerging as one of the leaders in future mobility with its Hyundai, Kia and Genesis brands. In fact, Hyundai and Kia EVs have been dominating the prestigious critics awards for the last couple of years as well. In addition to that, Kia has been on the path to expand its portfolio to cater to a wider range of customers. All these factors ensure that the popularity of the brand surges.
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Kia Global EV Sales
In the month of May 2024, Kia sold an impressive 19,407 all-electric cars. In comparison to the same month last year, this marks a monumental 93% growth. Additionally, the EV share in the brand’s total volume is now 7.5%. That is substantial, considering the fact that Kia has been selling mass-market cars for decades. Among the contributors to the EV sales, the E-GMP electric cars make up a considerable over 50% with 10,577 units. The breakdown is as follows:
- Kia EV3 – 4 Units
- Kia EV5 – 1,732 Units
- Kia EV6 – 6,081 Units
- Kia EV9 – 2,760 Units
Note that the attractively affordable EV3 has just been launched. Hence, going forward, it will certainly form a substantial chunk of the overall sales. That is also a testament to the fact that these sales are slated to rise even further in the immediate future. This year alone, Kia has sold over 80,000 EVs in total. Out of these, the E-GMP EVs have a wholesale shipment volume of over 55,000. This is up 20% from the same time last year.
For reference, in 2023, Kia wholesale shipments of E-GMP electric cars were a colossal 132,711. It is entirely possible that the Korean car marque is able to surpass that number comfortably this year. Also, Kia is constantly launching new products across various international markets. Hence, the rate of growth will be exponential.
Kia has an extensive plan to build a global EV manufacturing hub with factories across strategic locations around the world. These include Korea, China, the U.S., Europe and Mexico. Hence, the specific requirements of customers in different regions will be taken care of.
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Learn Electric Cars Says
We are at an intriguing stage in the EV revolution where different scenarios are playing out in various parts of the world. A general consensus agrees that the demand for EVs has plateaued in the biggest markets including China, the U.S. and Europe. But there are multiple emerging economies where the growth rate is mammoth. Also, carmakers are coming up with more affordable EVs going forward. That is bound to boost mass adoption.
I feel the lower initial costs will be the biggest trigger facilitating the mass adoption and demand for EVs. Governments across the world are already offering incentives and investing heavily in developing charging infrastructure to ensure the charging needs of the burgeoning EV customers are met. Even the private players and carmakers are chipping in by installing public charging stations. I, for one, am genuinely excited to see how things pan out in the next couple of years.