Hyundai IONIQ surpasses 100.000 units sold worldwide

Hyundai IONIQ trio sales worldwide

In total 106.306 units of the Hyundai IONIQ trio were already sold worldwide by January 2018. However, these figures could be a lot higher if Hyundai had increased production to keep up with demand…

 

When Hyundai launched the IONIQ Hybrid in 2016, it was clear that it was aimed to compete with Toyota Prius, which is still the most sold hybrid car in the world. On the other hand, the electric variant was aimed to be an alternative to the Nissan Leaf.

The plug-in hybrid variant came later and its high price – combined with low electric range – makes it the most unappealing to consumers.

Anyway, Hyundai did a great job designing this eco-friendly trio.

 

Now lets see how well each variant sells in the domestic (South Korea) and foreign (export) market.

 

Hyundai IONIQ Hybrid sales
Year
Market 2016 2017 2018 (YTD) Total
Domestic 6 858 4 232 207 11 297
Export 14 622 43 896 4 006 62 524
Total 21 480 48 128 4 213 73 821

 

The hybrid variant is the one that Hyundai prefers to sell and that’s why it’s much cheaper than the other two. There’s no technical reason why the electric variant – with its small 28 kWh battery – costs around 10.000 € more than the complex hybrid variant in most European countries.

 

Hyundai IONIQ Electric sales
Year
Market 2016 2017 2018 (YTD) Total
Domestic 3 700 7 857 1 086 12 643
Export 2 015 9 464 873 12 352
Total 5 715 17 321 1 959 24 995

 

The electric variant is the second most sold worldwide, however it outsold the other two variants in South Korea, where governmental incentives to buy electric cars are working.

 

Hyundai IONIQ PHEV sales
Year
Market 2016 2017 2018 (YTD) Total
Domestic 0 129 5 134
Export 7 4 343 1 047 5 397
Total 7 4 472 1 052 5 531

 

The plug-in hybrid variant was the last to be made available and it’s the most expensive. Since plug-in hybrids don’t have much success in South Korea this variant is destined for exportation.

 

Summing up, this eco-friendly trio was very well engineered, but it’s undermined with low production rate and high waiting times. A decentralized manufacturing via multiple facilities (South Korea, China, North-America and Europe) is what this trio needs the most to thrive. It’s the decentralized manufacturing that makes the Nissan Leaf the best selling electric car.

Considering that Hyundai’s battery cell supplier (LG Chem) has already production facilities in those four regions I mentioned, it’s a shame that Hyundai doesn’t take advantage of it…

 

 

More info:

https://www.hyundai.com/worldwide/en/about-hyundai/ir/ir-activities/sales-performance

This Post Has 25 Comments

  1. The different between hev and bev prices is an interesting fact. But I don’t buy interpretation that it is simple ill feeling of manufacturer. Prices on bevs are pretty much leveled (nissan, ioniq, egolf) yet none of those seems to be exceedingly profitable. Despite scale neither Tesla is making such a killing on their cara. There might be some h

    1. Hi Pedro,
      Don’t really care about the hybrid’s price. But I do have a question. Sometimes I listen to people talking about this car and saying how wonderful it is and it just blows the Nissan out of the water and the such. Maybe you could explain to me why this car costs so much more than a Nissan Leaf? 39 500,00 EUR is a bit sort of ridiculous ain’t it? I don’t care how efficient it might be. Hell, it might run on water, any kind of water, rain water. Just no. Am I missing something here?

      1. Acenta with special offer (includes incentive) 28700,00 EUR. Yeah, the Ioniq better be real efficient

      2. Wow, I had no idea. My god, it’s like highway robbery.

    2. Why do you think that the cars are not profitable? Tesla is not profitable, but Tesla is a different company, they developed everything from the start/ground and are expanding extremely quickly, that is expensive.

      1. Apparently my phone has mind of its own and can decide when to send unfinished comment. All market analysys that I found(Bolt, Tesla, i think that egolf also) suggests that automakers are loosing money on them. Tesla is a case apart but going by their last financial statement if one excludes both R&D spending and depreciacion (ie. cost of assets: factories, production lines, supercharget network etc. – so called expansion) they are just barely profitable. So it takes a lot of faith to belive they are not heading towards at best huge capital raises, perhaps bailout. What I was trying to convey is: perhaps there is some hidden reason why this bussiness is unprofitable, despite the fact that bevs are much less complicated to manufacture. Perhaps companies have to create huge provisions for future liabilities because of short history and uncerteinity, about battery life and safety. There were talks about cost of insuring cells transportation – perhaps those are prohibitive. Perhaps to get long term contract for cell supply automaker has to chip in with cell production capacity. Perhaps it is just problem of how automotive industry is looking at profitability – when one is running r&d, sales, brand building, marketing, long term liabilities against recalls and so on it is very unituitive to asses which revenues and costs are related. It would be nice yo have some industry manager expounding about those issues. I just don’t buy narrative that it is just bad will of automakers and Big Oil.

      2. “I just don’t buy narrative that it is just bad will of automakers and Big Oil.”

        But it is. When you don’t want the government force you to sell a product you just need to say that it isn’t profitable. And make sure it isn’t, by producing it in small quantities and outsourcing most of the parts.

        The only legacy automaker that has my respect is Nissan, that produces the Leaf in 3 different locations (4 if we count that China is next).

        Ghosn already admitted that the Nissan Leaf is profitable.

        https://insideevs.com/nissan-ceo-ghosn-leaf-sales-success-profits/

        And this was more than 3 years ago…

      3. There is shady accounting going on with legacy auto telling people why they price BEVs high when the reality is that legacy auto wants to sell ICEs not BEVs and the accounting and statements reflects that and not facts…

        If you look up the BEV parts for a Bolt or Spark from GM online parts suppliers the parts individually at MSRP to individuals do not justify a 37.5k Bolt price let alone what GM would pay for them…

        https://pushevs.com/2016/09/13/ogiso-admits-that-some-bevs-are-already-cheaper-to-build-than-hybrids/

        A quote from a former Toyota hybrid engineer who is now a Toyota exec…
        “Up to 250 km (155 mile) range, battery-electric vehicles already can be built for less money than hybrids.”

      4. Tesla isn’t developing everything from ground. Tesla cars are 80% made of bought OEM parts.

    3. Sorry, didn’t mean to reply to you the first time. Anyway, Pedro knows a lot about batteries and if he says they are getting quite cheap I believe him. On the other hand, there was an article saying Bolt’s motor was some 3/4000 USD more expensive than an ICE so, maybe pure EVs aren’t that simple or cheap

  2. A mi por mi Ioniq Tecno hibrido en Barcelona me cobraron 23.600 euros llave en mano, me tardo 1 mes y medio aproximadamente en llegar. Pregunte al comercial por la versión enchufable y si Pedro Lima parecia que su interes era venderme a toda costa el hibrido, me dijo que me saldria por unos 31000-32000 euros entre ¡¡¡¡7.400-8400 euros más caro que el hibrido!!!! Lo descarte rapidamente, la espera merecio la pena, a día de hoy estoy bastante contento con el coche la verdad. La politica de marqueting de Hyundai con este coche al menos en España es un desastre da la impresión que no quisieran venderlo. Lo digo por que es inexistente sin embargo la del Niro es algo más efectiva se ven más al menos por aquí. Yo fui en su dia a ver y probar el Niro y el Ioniq es mucho más coche.

    1. Unfortunately it does seem that Hyundai doesn’t want to sell the IONIQ, specially the plug-in variants.

      However, I’m glad you’re enjoying your hybrid.

  3. It’s hard not to like this eco friendly trio, you write, but you also lambast Hyundai and say they don’t want to sell the Ioniq. Go figure.

    Anyway. Hybrids are never eco-friendly if they haven’t got a plug, and seldom even when they do have a plug. The former obviously uses fossil fuels for 100% of its energy, and is only marginally more efficient than ICE alone, at great complexity and expense. “Every little helps” is a good idea when many people help out a much smaller group, or very rich help very poor, because of the imbalance. But it’s a terrible way to think about a global problem that requires massive change. A more realistic mindset is “if everyone achieves a little, we can achieve a little”. If 100% choose a hybrid instead of an ICE we would cut emissions by 10%. But we need to cut them by 90%, and many areas are harder than land based transportation (aviation and agriculture, for example). So the only sensible aim is to cut emissions from cars by 100% as quickly as we can. Contributing to people’s misperception that hybrids are eco friendly is not the way to go about it.

    1. Forgot to mention why PHEVs are almost never any good either. A study in Norway found that on average, half the distance driven in these cars was on fossil fuels. But since the electric propulsion is three to four times as efficient, this means the current crop of PHEVs derived between 75% and 80% of their energy from fossil fuels.

      Their emissions are much less than plugless hybrids, so it’s not a marginal improvement. But it is only half of what we need. To achieve a 90% cut in overall emissions, we have to eliminate completely the emissions we easily can.

      Hybrids and plug-in hybrids are worse than ICE in one respect: people think they are eco friendly, and that leads to even more delay in making urgent changes.

    2. Interesting idea. I think PHEVs have value as a transition to EVs because they can get people past the range anxiety, and then get them used to driving electric. People have so much of their status and identity wrapped up in their cars that it’s going to be a lot of work to get most car owners to switch. Most people aren’t going to go looking for an ev even if they want one for their next car, so the dealers will have to have put their evs right out front and actually try to sell them. I guess there’s probably a societal tipping point of expectations, like in Norway that has to be hit first.

      Maybe the short range compliance ones don’t do a lot of ev miles, but the PHEVS like the Volt, Clarity, and Pacifica and outlander surely do, and it’s only going to take a few percentage points of reduction in oil demand to really hurt the oil companies, since most of their stock value is based on future growth. So every little bit helps, because once their stock values drop, their cost of financing goes up, and then they’ll look doomed like the coal industry.

    3. I also forgot to say that with the new battery tech coming out that Pedro is keeping us up to date about (thanks!), and the new giant battery factories coming online soon, arguing about PHEVs might quickly become a moot point, as long range evs will soon be widely available in multiple market segments, with prices dropping. Hopefully this will entice enough people to get over their range anxiety and see that they don’t need to compromise and can go full EV.

  4. I also find it really disappointing that Hyundai is trying not to sell the EV version. I saw a suggestion once that it’s because they don’t have enough battery supply, so they can build a lot more HEV versions with the amount of batteries they have available, and therefore make more money overall.

    That they get to charge an extra premium for the EV versions in order to keep demand down is just icing on the cake for them.

  5. The EV edition is a compliance car. Demand is huge everywhere, shipments are only trickling.

    Hyundai obviously doesn’t want to sell them.

  6. A couple of weeks after a new iPhone (and sometimes Samsung Galaxy S) is released a tech-site writes the price of the components of the iPhone and what the iPhone is worth in parts. That does not include the cost of assembling the phone or the development costs, but it clearly shows the difference between cost and price.
    It would be nice if someone could and would do the same for the BEVs on the marked. I don’t know how they do it for the iPhone and Galaxy S, Apple and Samsung probably don’t release pricelists of their components, but if it is possible for a phone, why not for a car?
    In Denmark the price difference between the 22 kWh Renault Zoe (Life) and the 41 kWh Renault Zoe (Life) is 20200 DKK (about 2700 Euro). That means about 142 Euro / kWh.

    1. 142 euro / kwh. seams like a good price. But if you buy a Renault Clio + 41 kwh battery pack (142*41=5822 euro) you Still havet to add many many euro for the Renault Zoe. It is so irritating.
      I think your suggestion on calculating between Price and cost is very good Lars

  7. I mention the Renault Zoe because that is the only car besides Tesla I know that is available with two different battery sizes.

  8. Only 25000 BEV is a bad. Zoe goes over 30000 a year only Europe and Ioniq is worldwide more than one year on the market…

  9. 2017 Ioniq Blue – Base Model = $25K U.S. with extended warranty!!

    FYI – I get, consistently, 52 MPG and/or 56 MPG (If I don’t hit the dual shift SPORT option too HARD) !!

    With Dual Shift – I BLOW away any/all potato shaped prius which may be (slowly) chugging along by me or standing still at a RED light!

    This IONIQ base model is FANTASTIC!! I love it and I did not have to stay stuck on a multi-year waiting list to pay $15K U.S. more for a model 3, which gets way less than 300 miles per tank

    BTW – I get, EASY, 620 miles per TANK of GAS – That’s 997.793 KM for the rest of the WORLD!

    2017 hybrid BLUE – You ROCK, Baby!!

    Get wise, buy the best range car in the world for like $15K less than the other boys on the waiting list(s)!!

    ;-]

  10. Honestly!! IONIQ – U – ROCK – Cannot say enough about this kick-butt +50 MPG hybrid.
    ;-]]

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