Hyundai Ioniq 5 Sales Surge, but the Boom May Be Temporary | Carscoops

      A significant surge in EV sales indicates that buyers are moving quickly to secure purchases before incentives are removed, while Hyundai experiences record-breaking momentum.

      The Ioniq 5 experienced a remarkable sales increase in July, with 5,818 units sold.

      As the federal EV tax credit nears its expiration, buyers are hurrying to benefit from it. Hyundai achieved a record in July, with a 15% increase in sales, driven mainly by SUVs and EVs.

      With the impending end of the federal electric vehicle tax credit, many buyers are hastening their decisions to leverage it. This urgency has been reflected in the recent uptick in sales of the Hyundai Ioniq 5. The retro-futuristic hatchback recorded a substantial spike in July, contributing to a strong overall performance for the brand.

      When we refer to a significant increase, we're speaking of a 70% rise in sales compared to July 2024. In July 2025, 5,818 Ioniq 5s were sold, averaging almost eight units (7.8) sold every hour throughout the month. Year-to-date, the Ioniq 5 has seen a 12% increase, with Hyundai's overall sales up by 11% this year. However, let's explore these figures in more detail.

      Mixed Outcomes Across the Lineup

      Most models are seeing fluctuations in sales, either positive or negative by double digits. For instance, during the first seven months of the year, the Santa Cruz and Kona experienced declines of 20% and 13%, respectively. Nonetheless, these drops haven't diminished the success of other models. For example, the Venue has risen by 14% year-over-year. The Palisade increased sales by 53% in July and is up 13% year-to-date. However, it is overshadowed in total sales by the Tucson, which has climbed 20% this year, totaling 129,716 sales.

      “Hyundai delivered a remarkable July, establishing an all-time total sales record for the month with 79,543 units, reflecting a 15% increase year-over-year,” stated Randy Parker, president and CEO of Hyundai Motor North America.

      Hyundai U.S. Sales

      “We set new records across several models, including the Elantra HEV, Elantra N, Santa Fe HEV, Palisade, IONIQ 5, and the Santa Fe family. Additionally, sales of electrified vehicles surged by 50% compared to last year. Retail sales saw an 18% increase, driven by strong demand for the Santa Fe and Palisade, alongside a 71% rise in IONIQ 5 retail sales. These results showcase Hyundai’s progress in sustainable mobility and our ability to provide an innovative lineup that continues to appeal to customers.”

      Notably, the Ioniq 5 stands out among its peers, as it is the only EV under the Hyundai Motor Group to surpass sales figures from 2024. The Ioniq 9 also shows an increase, but that's primarily because it wasn't available for sale last year. In contrast, the Ioniq 6, Kia EV9, and Kia EV6 are struggling to reach the sales levels they achieved in 2024.