Hyundai's Global Sales Dip Amidst Plug-In Segment Struggles

In March 2024, Hyundai Motor Company reported a 3.7% decrease in global vehicle sales in comparison to the previous year, with the first quarter's sales following the downturn at 1.9% less The South Korean auto giant has faced notable difficulties within its plug-in sector: sales of its all-electric and plug-in hybrid models have fallen dramatically, by a third and 59% respectively The total combined shipments for Hyundai and its luxury brand Genesis plug-in vehicles reached only 21,565 units, marking a 37% decline from the year before, and accounting for a mere 5.8% of Hyundai's overall sales. Specifically, the month of March witnessed a 33% reduction in plug-in electric car shipments, with all-electric car sales comprising 4.9% of the total volume Leading the all-electric model lineup are the Ioniq 5 and the Kona Electric Likewise, Genesis struggled in the plug-in department with its wholesale shipments tumbling by 62%..