Hyundai makes its mark in the U.S. during Q3
Hyundai Motor America has achieved a record-breaking Q3 this year, thanks to the success of fully electric models like the Ioniq 5, impressive sales from hybrids such as the Elantra and Santa Fe, and strong dealership engagement. Additionally, Hyundai Motor America reported record-breaking year-over-year September sales, which increased 30%, thanks in part to buyers rushing to capitalize on the expiration of the $7,500 federal electric vehicle (EV) tax credit, which ended on September 30. Hyundai’s total and retail Q3 sales rose 13% and 11%, respectively, while battery electric vehicles (BEV) soared 100%, and hybrid sales increased by 48%. Let’s take a closer look at how Hyundai’s strategy paid off in more ways than one during Q3 and its plans for sustaining this success.
The Ioniq 5 reached uncharted sales territory
One of the most eye-popping stats from Hyundai Motor America’s Q3 report is the 153% year-over-year increase in EV sales during September, with Ioniq 5 deliveries rising a record 151% during the month. While the disappearing federal EV incentive helped jumpstart the model’s noteworthy surge, Hyundai is positioning itself to sustain this success past September.
Randy Parker, president and CEO of Hyundai Motor North America, said: “As we move into October, we’re introducing new programs to keep our vehicles accessible, such as repositioning the 2025 IONIQ 5 with extended $7,500 cash incentives and offering up to $9,800 in price reductions on 2026 IONIQ 5 models, reinforcing Hyundai’s legacy of delivering exceptional value and support. While the $7,500 EV credit has expired, our electrification strategy has always extended beyond incentives. We invested in EV innovation well before the IRA and remain steadfast in our commitment to affordability, quality, and customer care,” CBT News reports.
Hyundai
Hyundai’s hybrids pulled their weight
Sales of the hybrid Elantra and the hybrid Santa Fe increased by 89% and 45%, respectively, during September. Overall, hybrids and BEVs represented 38% of Hyundai Motor America’s September sales. This same month, Hyundai launched a new marketing campaign for the Palisade hybrid with actress Parker Posey ahead of the model’s November release. A Goldman Sachs research team now forecasts that hybrid electric vehicles (HEVs) will represent 12% of the global market by 2030, up from the previous estimate of 10%, and Hyundai is taking advantage of increased interest. Additionally, Goldman Sachs predicts that plug-in hybrid electric vehicles (PHEVs) will account for 17% of the market by 2040, representing an 8% increase from the initial forecast.
Hyundai Motor America’s CEO recognized dealership engagement
Hyundai Motor America’s Randy Parker added: “September marked our strongest third quarter on record, fueled by a diverse product lineup, outstanding dealer support, and robust consumer demand.” Hyundai’s dealer engagement was primarily facilitated by quality customer support for BEV and hybrid purchases — including the smooth handling of incentive transactions —as well as motivation in selling the company’s extensive portfolio.
Kristen Brown
Final thoughts
In total, Hyundai sold 239,069 cars during Q3, with several key components — such as marketing, incentives, and dealership support — driving this success. Additionally, Hyundai is extending the $7,500 cash incentive for the 2025 Ioniq 5 and offering price reductions of up to nearly $10,000 on the 2026 Ioniq 5, positioning the company to maintain its sales momentum following the federal EV credit’s expiration.
