- Surging sales present a positive outlook for Hyundai and Kia Motors|
In the global electric vehicle sales ranking (EV, PHEV, passenger and commercial vehicle combined) during Q1 2018, Tesla and BYD ranked first, and Hyundai and Kia held their top 10 positions in EV and PHEV segment. Based on the current strong sales, Hyundai and Kia are expected to climb up higher.
Thanks to the sharp sales increase of Model 3, Tesla took back No. 1 position in the EV segment. JAC, CHERY, and Volkswagen shipped more units of IEV6e, eQ, and e-Golf (new version) compared with the same period last year, regaining their top 10 market positions. On the other hand, Renault and BMW recorded sales growth significantly lower than the market average and suffered from ranking drops.
Hyundai has risen to 10th from 12th in the same period last year with a sharp sales increase of Ionic EV (260%). It may overcome the narrow sales gap to overtake Volkswagen and JMC, rising to 8th place.
In the PHEV segment, BYD made its way to the top of the list on the back of the strong sales of Song and Qin models. ROEWE and Volvo took fourth and sixth place with the strong sales of their flagship models, eRX5 and ei6. On the contrary, Toyota, Mitsubishi, Mercedes, and Chevrolet dropped in ranking.
Surging sales of Niro and Optima, by more than 900%, placed Kia at 10th place. In the same period last year, it ranked 16th place and also maintained the top 10 after January and February. If the strong record holds up, it may aim at a higher position.
With the continuing strong performance in the market, the two Korean automakers have become regular top 10 global EV and PHEV makers. It will be noteworthy how high their brand power can grow in the following periods.