Hyundai Ioniq 5 Global Sales Data: The Success Thus Far
Long/Short Equity
Seeking Alpha Analyst Since 2008
Summary
- Hyundai Ioniq 5 is one of the most differentiated new electric cars entering the market in 2021.
- The two main reasons for this are (1) Its retro-inspired design and (2) Its 800 volt charging system.
- Sales in Europe started in May 2021, and I have the data from global sales, European sales and a couple of European countries.
- It looks like approximately 50% of the global Hyundai Ioniq 5 sales have been happening in Europe. The other half, probably in its home market South Korea.
- U.S. sales should begin soon, approximately at the very end of 2021. We don’t even know how many units will be allocated to the U.S. market.
NOTE: A version of this article was first published on or about December 5, 2021, on my Seeking Alpha Marketplace site.
Hyundai (OTCPK:HYMTF) Ioniq 5 is one of the most interesting all-electric cars (BEV, or Battery-Electric Vehicle) that has entered the market. The reasons for this are twofold:
Design: It’s one of the first retro-inspired BEVs to have achieved mass production. Privately held Bollinger would have been more interesting, but it is not yet being delivered, let alone in meaningful volume. One must admire a design that does not ape the lazier “moderately used bar of soap” shapes beloved by 99% of the competition.
800 volt technology: Porsche Taycan and Audi eTron GT were first with 800 volt technology, but the Hyundai Ioniq 5 is the first at this price point -- starting not too far from the low $40,000 level. The Porsche/Audi start around twice that price.
The Hyundai Ioniq 5 is made in South Korea and has a sister vehicle from Kia, and soon one from Genesis. It went on sale in parts of Europe in May 2021, and will soon be available in US showrooms.
We have some data available from different geographies, as far as Hyundai Ioniq 5 sales thus far. Some of this data is global, some is from Europe, and then we have data from two of the largest countries in Europe when it comes to electric car sales -- Norway and Netherlands. Those two countries are also two of the ones where automakers prioritize the earliest sales, given their strong EV history.
Ioniq 5 |
World |
Europe |
Europe % |
Norway |
Netherlands |
2021-11 |
475 |
392 |
|||
2021-10 |
7,251 |
3,720 |
51% |
595 |
147 |
2021-09 |
6,754 |
3,732 |
55% |
652 |
69 |
2021-08 |
5,472 |
2,321 |
42% |
629 |
64 |
2021-07 |
5,924 |
432 |
96 |
||
2021-06 |
222 |
21 |
|||
2021-05 |
63 |
Data sources: cleantechnica.com and eu-evs.com
Global sales appear to have been on a stable but steady growth from July through October. The European share of sales has been remarkably stable at around 50%.
Sales started in Norway in May 2021 and then in June 2021 in The Netherlands. Sales in Norway ramped up quickly by late June or early July, whereas sales in The Netherlands didn’t really take off until October.
Sales have yet to start in the U.S., so we have no idea how many units will be sold in the U.S., let alone be allocated from a manufacturing perspective. The earliest we would find about this would be this month, December, but it would just as well slip into early 2022.
Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Short position through short-selling of the stock, or purchase of put options or similar derivatives in TSLA over the next 72 hours.
At the time of submitting this article for publication, the author had no positions in any of the companies mentioned. However, positions can change at any time. The author regularly attends press conferences, new vehicle launches and equivalent, hosted by most major automakers. Hyundai hosted product introductions.
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