Ford, Cadillac, Hyundai, & Kia EV Sales Increase in US

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I already wrote about Audi and BMW electric vehicle sales increasing in the US in the 1st quarter of 2024 compared to the first quarter of 2023. With many automakers reporting their sales numbers, we can now see that several other automakers also had stronger all year round. – annual growth in EV sales. This runs counter to the narrative that EV sales, or EV sales growth, is slowing — well, that is, if you take Tesla’s poor Q1 performance out of the equation.

Let’s look at how much the other four car brands grew their EV (full battery electric) sales in the 1st quarter of 2024 compared to the 1st quarter of 2023. Of course, I’ll add Audi and BMW here as well.

• Audi – 29%
• BMW – 63%
• Cadillac – 499%
• Ford – 86%
• Hyundai – 76%
• Kia – 138%

That sounds like good growth to me. Here are the numbers, looking at volume instead of percentage this time, in chart format:

So, what are the real electric car models driving this sales growth? Let’s take a closer look.

In the case of Cadillac LYRIC is on fire after gradually improving production and deliveries since its launch in Q3 2022. It had 5,800 shipments in the first quarter, up from 968 shipments in Q1 2023. That was also its best quarter ever, the highest number ever. up from 3,820 shipments in Q4 2023.

In the case of Ford E-Transit had its second best quarter ever with 2,891 sales, trailing only Q3 2022’s 3,861 sales. However, the brand’s biggest players are Mustang Mach-E and F-150 Electric. Both models were higher than Q1 2023 – from 5,407 to 9,589 on the Mach-E side, and from 4,291 to 7,743 on the Electric side. In fact, they were down compared to Q4 2023, but it is common in the industry for the 1st quarter to be the weakest quarter for sales.

Moving to Hyundai, the IONIQ 5 was slightly higher, from 5,736 in Q1 2023 to 6,822 in Q1 2024. However, there are also now IONIQ 6which rose from 222 sales in Q1 2023 (its first quarter of sales) to 3,646 in Q1 2024.

Last, but clearly not least, we come to Kia. The EV6 it grew from 3,392 sales in Q1 2023 to 4,059 sales in Q1 2024. However, again, it is the new entrant that gave the boost. The EV9 it was not on the market a year ago, and then registered 4,007 sales in Q1 2024, its second quarter on the market.

So, there’s a story of key parts of the US EV market right now. More to come in the full report when all the numbers are in and crunched. As we can see, however, things are looking bright for the big brand in terms of US EV sales.