Just WHY Did Hyundai Motors Electric Cars Sell Well Last Year Without Tax Credits?

Just WHY Did Hyundai Motors Electric Cars Sell Well Last Year Without Tax Credits?

We are now very much into the second half of January 2024 and while the first few weeks of the year are still very much a blur in my mind and I’m going to guess yours we’ve seen automakers all around the world publish their sales data for

2023 and as a part of that we’ve learned which companies had a good year which ones didn’t and where Trends are going and while many many people in the comments section are adamant that nobody had a good year and nobody wants to buy electric cars and only Tesla had a good

Year for sales the reality is kind of different taking the Us sales figures as a focus it’s fair to say that for the most part Legacy automaker EV sales while generally higher than they were in previous years still represented a far lower proportion of their total vehicle

Sales volume in most markets than we hear at the channel would like but that’s not to say that there weren’t successors BMW EV sales volume last year was nearly double what it was the year before and it wasn’t the only automaker to experience such a good growth even

Ford and GM whose naysayers spent most of the Year complaining about Vehicles sitting on dealer Lots had growth in their EV sales output Ford’s beev sales for 2023 were up 177% on the previous year with a large part of that thanks to fourth quarter growth in F-150 Lightning

Sales GM despite setbacks and challenges and producing enough battery packs for its ultium Vehicles also had better EV sales than in previous years thanks to the bolt EV and Bolt euv the twin Vehicles which it planned to stop producing in the summer then offered a stay of execution until the end of last

Year but there’s one brand which had a truly amazing year when it came to EV sales and past performance or rather one group Hyundai Motor Group which is responsible for Hyundai Kia and Genesis badged Vehicles during 2023 combined Hundai Kia and Genesis EV sales outperformed every other Legacy

Automaker securing the brand a second place to Tesla for the year in the US and sure while Tesla’s Us sales volumes were in order of magnitude higher than those of Hyundai Motor Group and then some it’s worth looking at how an automaker whose Vehicles did not qualify

For any US federal tax rebates managed to outpace two companies with vehicles in their portfolio which did qualify for tax rebates not to mention other non-domestic automakers whose us-made Vehicles should have been a shoe in for consumers wanting a good deal why did it happen honestly we think that are some

Very simple reasons why suddenly Hyundai Motor groups EVS sold like hot cakes and why when other automakers are slowing down their transition to Electric Hyundai Kia and Genesis seem to be accelerating theirs and frankly it’s all down to good design good engineering and some Forward Thinking shall We one of the truly amazing things about the electric vehicle world today is the breth of choice in the marketplace just 10 years ago there were literally just a handful of different electric cars you could buy and now in North America you can get everything from a full-size

Pickup truck to later this year at least a small City hatchback some other countries have many options in each segment and there’s something of an expectation that automakers who bring a new vehicle type or Tech to Market will have ultimately the head start on the competition after all Toyota was the

First automaker to Market a four-door five seed hybrid and it’s dominated the hybrid Marketplace for years since Tesla was the first to Market with a luxury electric sports sedan and we know where Tesla is today the h Kia Genesis family of vehicle Brands weren’t particularly

Quick to Market when it came to EVS the first vehicle from the group to go all electric was the Kia e Soul a battery electric conversion of the already existing and highly popular Kia Soul far more expensive than the imminently affordable ice Kia Soul variants the Kia

EO or Soul EV entered the market with specifications that frankly weren’t groundbreaking it was more expensive than the segment leader at the time the Nan leaf and while I am personally going to admit that I would opt for hamsters any day over Nissan’s sometimes weird and strange Leaf adverts it wasn’t made

Or sold in huge numbers that said I am a fan of the eols design and I’ve always wanted to own one and Kate Walton Elliot’s wife has an ESO as her daily driver Link in the description to their latest in ownership experience but while the Kia EOL was a battery electric

Version of an existing ice vehicle the next vehicles from the group the Hyundai ionic EV Kia Nero EV and Hyundai Kona EV were all launched on platforms designed by Hyundai Motor Group to accommodate a variety of different drivetrain options including hybrid plug-in hybrid and Battery electric and while each of those

Vehicles weren’t exactly large in their range capabilities and weren’t exactly competitively priced they showed serious improvements in Eevee capabilities they offered familiar Interiors comparable with gasoline models from the brand they offered improvements to charging ditching the chedo of the esol and adopting ccs and they were pretty

Solidly built too the Kia Nero EV is still frankly one of my top EVS of all time because it just gets the job done and while other automakers were obsessing over speed and range these three vehicles were quietly testing the water and figuring out exactly what

Customers wanted in an EV and then it happened it happened in 2020 when Hyundai Motor Group teased a brand new vehicle platform called the electric Global modular platform or egmp for short it was designed to underpin all of the group’s electric vehicles for the next few years and unlike most other

Automakers the platform was designed from the ground up to take advantage of not only different battery pack capabilities and drivetrains but add charging support for both 4 and 800 volt DC fast charging and an onboard two-way power inverter for vehicle to load capabilities just like Tesla had used a skateboard design

Into which different the battery pack and drivetrain options were placed so too did the egmp platform offer a range of different drivetrain and battery pack options to cover everything from an economical Runabout to an out and out track monster while Hyundai Motor Group wasn’t the first to develop a platform

With 800 volt quick charging that distinction goes to Porsche it was the first automaker to bring 800 volt DC fast charging to mainstream non-luxury Vehicles it was also the first automaker to include 400 and 800 volt fast charging without a penalty for using 400 volts Porsche had in its early days of

The tyon included 800 volt charging as standard and added 50 kilowatt capabilities to the 400 volt DC fast charging circuits if you want to charge at a higher speed at a 400v charger in station they needed to pay for an additional charging package to do it admittedly initial experiences of those

With 800 volt capable cars wasn’t great especially when the first 800 volt capable charging stations were far from reliable But as time has gone on 800 volt fast charging has become more practical and that’s been really beneficial to egmp based Vehicles instead of spending 40 or 50 minutes

Charging at a fast charger customers can fast charge a reasonable amount of range in 15 minutes or less which frankly dramatically improves the ownership experience for anyone who either does not have atome charging or who makes regular long-distance trips at this point you’re probably wondering why I’m spending so much time

Talking about the platform of egmp based cars but I genuinely believe the platform is the reason why Hyundai Motor groups vehicles are proving so popular today in addition to the capability to get power into the vehicle quickly the v2l functionality is quite honestly the feature I hear most about from Hyundai

Ionic 5 ionic 6 and Kia ev6 owners especially at this time of year when power Cuts abound until the egmp platform if you wanted to pull power out of an EV you needed an expensive two-way charging station as was the case with the Nissan Leaf and other Cho compatible

Cars and is still the case with my Ford F-150 Lightning or frankly you needed to Homebrew something to science the out of the situation with potatoes and something that’s all filing good if you are a nerd but less so if you just want to drive an EV and really do not care

About how the power gets in and out of your vehicle just that it does Hyundai groups plug-in adapter which allows you to pull power out of the socket you usually use to charge your vehicle was a stroke of Genius for vtl it is small it

Is Compact and is easy to use and it’s designed to allow you to power just enough to get you through a power cut sure it won’t run your entire house you’ll definitely need an F-150 Lightning right now for that but it’s a lot cheaper than that particular

Solution and dare I say it more reliable and it’s enough to just plug your laptop computer your mobile phone and maybe your refrigerator into your car to keep yourself going during a power cut okay I I’m maybe being unfair you can actually plug a whole lot more into your egmp

Based vehicle and to see just how much go over and watch the video that Alec from technology connections made I’ll link to it in the description it showcases just how much energy he used over the course of an entire week and running his home from his ionic 5 EV go

Watch it and subscribe it’s a good video while we are on the subject of the platform let’s examine the motor choices while I will admit that I’m not a fan of the entry-level rear wheeel drive egmp cars I drove I drove an entry level ev6 and definitely wasn’t impressed with its

Acceleration or performance it is also fair to note that it’s adequate for most people’s daily driving needs the fact that the egmp platform can accommodate multiple different motor choices is frankly one of its strength moreover unlike some of the all-wheel drive EVS in which Motors are always engaged

Hyundai Motor Group had the sense to design the front-wheel drive unit to be a motor type that could electrically disconnect when not required improving overall vehicle efficiency which by the way is why the absolute Beast that is the Kia ev6 GT can hit 170 mph in what

Feels like the blink of an eye but it can also achieve decentish long range road tripping sens abilities when you need it to the final part of the Hyundai group’s plan is unique design frankly there’s nothing quite like the ionic 5 on the road and it’s different to all of

The other crossover SUVs out there yet at the same time Hyundai Kia and Genesis EVS all have an identity that blend back into their respective Badges inar and onboard Tech also isn’t in your face like it is in say the Ford Mustang mark e sure there is a dashboard made of two

Discrete screens with the inner one being a touchscreen but the design is close to Hyundai Kia Genesis internal combustion engine models and isn’t alienating it isn’t quirky it’s what you’d expect from a regular car and for end users that is important especially if this is their first electric car the

Only quirky thing I can think of is that weird orb in the Genesis gv60 but honestly the Lesser we said about that the better before you think that this is a love letter to the egmp platform I’m going to be honest it isn’t there have been some things that Hyundai

Group have royally screwed up having no Wireless Apple carplay or Android auto is an ongoing joke on this channel every time we review an egmp platformed car trying to persuade it to connect wirelessly and yeah it doesn’t have it but no Wireless carplay or Android auto

For no red leag apparent reason now as with the other cars on the egmp platform both carplay and Android auto are only supported in wired mode there’s no Wireless carplay or Android auto I know it’s becoming a bit of a running joke now and both Hyundai and Kia seem eager

To bleed their customer base dry for connected services for basic functionality there have been hiccups with vehicles and a slow of early teething problems too that are thankfully now seemingly resolved and let’s not forget initial availability which was diabolical for nearly the first year of production in some markets

Not to mention those High battery replacement costs in Canada but finally and most importantly I think that the Hyundai Kia Genesis offering of EVS have performed so well in the last year because they’re not being advertised primarily as electric vehicles they are being advertised as part of each Brand’s

Respect effective lineup and they’re not so different in their appearance that they’re putting people off and while they do have technology in them the technology isn’t off-putting but rather more useful take for example remote control being able to pull your car into and out of a tight parking space while

You’re not inside it that’s incredibly useful in some markets more useful some would argue in fact than being able to have the car drive you on the freeway and if we add to that a trio of Brands whose reputation has grown as being ones that offer incredible warranty and generally pretty good after

Sales service and frankly it’s not surprising that people are opting for them sure I personally drive a Ford F-150 Lightning and a Chevrolet bolt but I suspect if we had to go shopping to replace the Chevy Bolt the Kia Hyundai Genesis lineup would be right there on

Our potential test strive list all three brands have utilized the egmp platform in subtly different ways that all complement each other but each manages to identify exactly what customers really want and it’s not just another faceless oversized SUV with semi-autonomous capabilities sorry Ford sorry GM and sorry to plenty of other brands

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Last year, Hyundai Motors Group (Hyundai-Kia-Genesis) vehicle sales combined placed the group in second place in North America for sales, beating both the electric vehicle sales figures from Ford and General Motors.

Yet unlike Ford, GM, and Tesla, which made and sold some vehicles that were eligible for U.S. Federal Tax Credits Hyundai Motors Group vehicles were ineligible for tax credits. So why did they sell so well?

We have some very good ideas as to why.

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00:00 – Introduction
03:09 – So much choice!
03:58 – Hyundai Motor Group’s first vehicles
05:01 – The next generation of EVs
06:06 – e-GMP
07:15 – Benefits of 800V
08:34 – V2L
10:34 – Drivetrain Choices
11:36 – Unique Design
12:41 – The bad bits
13:17 – The final bonus points?
15:26 – Thanks, and Goodbye!

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Watch @TechnologyConnections video over on @TechnologyConnextras discussing powering a home with an IONIQ 5. https://www.youtube.com/watch?v=yO5fJ8z66Z8

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Script: Nikki Gordon-Bloomfield and Kate Walton-Elliott
Presenter: Nikki Gordon-Bloomfield
Editor, Colorist: Michael Horton
Art and Animation: Erin Carlie
Producer: Nikki Gordon-Bloomfield
© Transport Evolved LLC, 2024

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