North American-Made EV Sales Surge As Hyundai And Kia Struggle In January

North American-Made EV Sales Surge As Hyundai And Kia Struggle In January

North American-Made Electric Vehicle (EV) sales took off in January, as a few notable industry giants experienced difficulties. Hyundai and Kia, two of the mainstays in the EV space, found themselves struggling against a rising tide of competition from domestic manufacturers.

The EV sector of the automotive industry saw a sizeable increase in sales across the continent in January. According to the latest figures, EV sales for the month came in at an impressive 40,564 units, a noteworthy jump of roughly 33% compared to the previous year.

This surge in sales was largely driven by domestic manufacturers. Tesla, Ford, and Chevrolet all enjoyed a banner month of sales, with their respective EV offerings capturing a combined total of 32,644 units in January. This represented a massive 77.8% increase in sales from the same period last year.

Hyundai and Kia, though, were unable to keep pace with their American counterparts. The two Korean firms, which are usually reliable sources for EV sales, experienced a noticeable downturn in January. Hyundai’s EV sales plummeted by 32.5% compared to the previous month, while Kia’s EV sales dropped by an even starker figure of 40.2%.

The reasons behind this slump in EV sales remain unclear; however, analysts have suggested that it may be due to an increased focus on electric vehicles from US firms. With the likes of Tesla and Ford upping the ante in the EV arena, Hyundai and Kia may have found it increasingly difficult to remain competitive.

Overall, the North American EV market is in a state of flux. Domestic producers seem to be gaining ground, while the established Korean duo of Hyundai and Kia appear to be struggling to keep up. It remains to be seen how this trend will play out in the months to come, but for now, the future of EV sales looks bright.