Kia’s retail EV sales jump 93% to 19,407 units in May 2024

Kia’s retail EV sales jump 93% to 19,407 units in May 2024

South Korean automobile giant Kia Corporation’s electric vehicle (EV) retail sales exceeded 19,400 units in the month of May this year, setting a new benchmark as share of EVs reached 7.5 per cent of the brand's total volume.

The South Korean car brand experienced a decline of 2.1 per cent in its global vehicle sales, with total sales settled at 264,313 units last month. However, the world-renowned automaker enjoyed a remarkable surge in sales of its all-electric vehicles, setting a new record. To be more specific, the automaker all-electric car sales jumped 93 per cent year-over-year to 19,407 units in the month under review.

The retail sales of the Korean brand include the EV5, EV6, EV9, Soul EV, Niro EV, Niro Plus EV, the Ray EV and the Bingo EV. It may be noted here that the Kia Ray EV is available only in the automaker’s home market. Momentum in the company’s EV sales is expected to continue with the launch of the all-new EV3 model, which is scheduled for the second half of this year.

When it comes to wholesale shipments of Kia vehicles, the company’s E-GMP-based electric models amounted to roughly 12,500 units. This figure represents a year-over-year jump of 29 per cent. This includes the shipments of the EV3, EV6 and EV9 in South Korea and the EV5 e-SUV in China.

The Kia EV6 surfaced as the automaker’s best-selling electric model, with a total of 6,081 wholesale units. This figure represents a decline of 37 per cent from the month of May 2023. Experts believe that the sales of the EV6 will continue to grow in the foreseeable future.

The center of attraction was the Kia EV5, which set a new record in terms of monthly wholesale deliveries. In a nutshell, the Korean automaker’s wholesale E-GMP BEV sales in May were: the EV3: 4 units (new), the EV5: 1,732 units (new), the EV6: 6,081 units (down 37 per cent), the EV9: 2,760 units (up from merely 11 units), and the E-GMP BEVs: 10,577 units (up 9 per cent).

Kia’s remarkable growth in EV sales, despite a notable decline in overall global sales, marks a crucial turning point for the brand. Looking ahead, the company is expected to maintain momentum, thanks to growing popularity of models like the EV5 and the planned upcoming launch of the all-new EV3 model.

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