Hyundai and Ford Dominate EV Registrations in March

In a world where EVs are all the rage, Hyundai and Ford have swooped in to steal the show in March. EV registrations continue to climb despite murmurs of a slowdown, with a 3.8% growth illuminating the electric vehicle landscape. This surge was fueled by Hyundai and Ford, who saw their electric car sales skyrocket, leaving other automakers in the dust.

What?

Amidst the evolving EV market, Hyundai and Ford emerged as the stars of March, with Hyundai witnessing a whopping 100% surge in EV registrations and Ford experiencing triple-digit growth. Ford’s sales spiked with the Mustang Mach-E and F-150 Lightning dominating the electric SUV and pickup categories, respectively. On the other hand, Hyundai broke records with its IONIQ 5, IONIQ 6, and Kona Electric, proving that affordability and efficiency are their winning formula.

Why does it matter?

While the overall growth in EV registrations in March was modest, the EV market share jumped from 6.8% to 7.1%, signaling a shift towards electric vehicles. Despite these advancements, Tesla faced a setback with a 12% decline in registrations, partly attributed to supply constraints of the new Model 3. However, experts predict a potential comeback for Tesla later this year.

How is it going to shape the future?

With new contenders like the Volvo EX30, Chevy Equinox EV, and Kia’s EV9 making waves, the landscape of electric vehicles is set to transform further. Hyundai’s unwavering commitment to EVs in the US, backed by investments in dedicated manufacturing plants and a focus on buyer confidence, indicates a promising future for the brand. As competition stiffens and more innovative models hit the market, the race to the top of the EV charts promises to be an exhilarating one.

As the world of EVs continues to evolve, keep an eye on Hyundai and Ford as they pave the way for a greener and more electrifying future in the automotive industry.

Source: https://electrek.co/2024/05/23/hyundai-ford-ev-registrations-outpace-rivals-march/