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A view of Hyundai Motor Group Metaplant America (HMGMA). (Photo: Hyundai Motor Group) |
[Alpha Biz= Kim Jisun] Seoul, South Korea — July 9, 2025 — Hyundai Motor Group ranked third in U.S. electric vehicle (EV) sales during the first half of 2025, falling behind General Motors (GM) for the first time since 2022. The decline is attributed to weaker-than-expected sales of the recently launched IONIQ 9 and delayed model updates for key EVs such as the nearly four-year-old IONIQ 5.
According to industry data from Wards Intelligence and other market research firms, Hyundai Motor Group held a 7.6% share of the U.S. EV market in the first half of the year, behind Tesla (42.5%) and GM (13.3%).
Total EV sales in the U.S. reached 589,066 units in the first half of 2025, up 5.2% year-over-year. However, Hyundai Motor Group sold just 44,555 EVs during this period, marking a 28% drop compared to the same period last year.
In contrast, GM surged ahead by doubling its EV sales to 78,167 units year-over-year, fueled by strong demand for new, value-oriented models such as the Chevrolet Equinox EV, priced in the KRW 40 million (approx. USD 30,000) range.
Analysts note that Hyundai’s delay in launching new flagship EV models and its reliance on aging platforms have contributed to its short-term performance lag in the competitive U.S. market. The company is expected to unveil next-generation models later this year to recapture momentum.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
