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Earlier this week, Kia introduced that final month was their third consecutive month promoting greater than 5,000 EVs monthly, a element that lets us determine how nicely the Kia Niro EV has been promoting this yr too (one thing Kia not often studies as they normally rely Niro EV gross sales with the 2 Niro hybrid variants, collectively). Let’s dig into these numbers.
First, since we all know Kia offered “over 5,000” EVs (however not precisely what number of), we are able to subtract the two,171 EV6s that Kia offered within the US final month in addition to the 1,905 EV9s it additionally offered final month from that determine (which I’ll say is 5,001 conservatively). That may imply Kia offered not less than 925 Kia Niro EVs final month out of the entire Niro gross sales determine of three,381. I’d estimate that the precise variety of Niro EVs offered final month is increased than 925 for the reason that Niro EV usually has a few 30% or extra share of complete Niro gross sales. After all “over 5,000” might additionally imply 5,099 or extra, and such a determine could be greater than 30% of Niro gross sales. Since we all know that Kia has offered a mixed 29,392 EVs within the US by means of June, I can subtract out all of the EV6 and EV9 gross sales from that complete (10,941 and 9,671 respectively), to substantiate that Kia has offered 8,780 Niro EVs within the US for the primary half of 2024.
If Kia retains up its EV gross sales tempo, they need to be capable of surpass 60,000 items offered by the tip of yr, which might symbolize an almost 100% improve in its EV gross sales from 2023, if that seems to be true. Whereas some could scoff at 60,000 items offered, what issues right here is the tempo at which Kia appears to be scaling their manufacturing and gross sales of EVs: doubling them (doubtlessly) in a yr is kind of important, particularly amongst all the information about EV gross sales declining. In reality, once we mix Kia’s EV gross sales with its sister corporations, Hyundai and Genesis, the Hyundai Motor Group (HMG) continues to outsell each different EV producer within the US aside from Tesla, together with Ford and GM,
So why does this matter? It issues as a result of within the US, Kia is quickly going to introduce what could develop into its greatest promoting EV up to now, the EV3 SUV and never too lengthy after that Kia will even launch the EV4 sedan. Whereas different producers aren’t sitting on their palms and also will be rolling out new, inexpensive EV fashions (although Tesla will not be a type of corporations), Kia, Hyundai and Genesis are rising gross sales quicker and in larger numbers than most different manufacturers/model households. My recommendation to anybody that doesn’ query the EV gross sales are tanking as a result of folks don’t need them or they price an excessive amount of narrative, or for anybody which will consider hybrids are going to far outpace EV gross sales development within the US marketplace for the foreseeable future: chances are you’ll need to examine the numbers and hold your eye on the Korean EV producers (in addition to Ford, GM, and many others.).
What do you consider Kia’s outstanding gross sales development throughout a time of declining EV curiosity? Is it only a flash within the pan or are Kia’s EV gross sales certain to continue to grow quickly? Please depart your feedback and solutions under.
Photographs courtesy of Kia.
Justin Hart has owned and pushed electrical autos for over 16 years, together with a primary era Nissan LEAF, second era Chevy Volt, Tesla Mannequin 3, an electrical bicycle and most not too long ago a Kia Sorento PHEV. He’s additionally an avid SUP rider, poet, photographer and wine lover. He enjoys taking lengthy EV and PHEV highway journeys to stunning and serene locations with the folks he loves. Observe Justin on Torque Information Kia or X for normal electrical and hybrid information protection.
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