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Earlier this week, Kia introduced that final month was their third consecutive month promoting greater than 5,000 EVs per thirty days, a element that lets us determine how nicely the Kia Niro EV has been promoting this 12 months too (one thing Kia hardly ever reviews as they often rely Niro EV gross sales with the 2 Niro hybrid variants, collectively). Let’s dig into these numbers.
First, since we all know Kia bought “over 5,000” EVs (however not precisely what number of), we will subtract the two,171 EV6s that Kia bought within the US final month in addition to the 1,905 EV9s it additionally bought final month from that determine (which I’ll say is 5,001 conservatively). That may imply Kia bought at the least 925 Kia Niro EVs final month out of the full Niro gross sales determine of three,381. I might estimate that the precise variety of Niro EVs bought final month is larger than 925 because the Niro EV sometimes has a couple of 30% or extra share of whole Niro gross sales. In fact “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 bought a mixed 29,392 EVs within the US via June, I can subtract out all of the EV6 and EV9 gross sales from that whole (10,941 and 9,671 respectively), to verify that Kia has bought 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 have the ability to surpass 60,000 models bought by the tip of 12 months, which might signify an almost 100% improve in its EV gross sales from 2023, if that seems to be true. Whereas some might scoff at 60,000 models bought, what issues right here is the tempo at which Kia appears to be scaling their manufacturing and gross sales of EVs: doubling them (probably) in a 12 months is kind of vital, particularly amongst all the information about EV gross sales declining. In truth, 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 might develop into its finest promoting EV so far, 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 might not be a kind 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 individuals don’t need them or they value an excessive amount of narrative, or for anybody that will imagine hybrids are going to far outpace EV gross sales progress within the US marketplace for the foreseeable future: it’s possible you’ll wish to examine the numbers and maintain your eye on the Korean EV producers (in addition to Ford, GM, and so on.).
What do you concentrate on Kia’s exceptional gross sales progress throughout a time of declining EV curiosity? Is it only a flash within the pan or are Kia’s EV gross sales sure to continue to grow quickly? Please go away your feedback and solutions beneath.
Photos courtesy of Kia.
Justin Hart has owned and pushed electrical autos for over 16 years, together with a primary technology Nissan LEAF, second technology 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 street journeys to stunning and serene locations with the individuals he loves. Comply with Justin on Torque Information Kia or X for normal electrical and hybrid information protection.
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