Hyundai Is Absolutely Killing It This Year

EV and sedan sales are way up as other automakers struggle with big losses.

By: Christopher Smith

Dec 3, 2024 at 11:04am ET

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The year isn't over yet, but it sure looks like Hyundai will finish in grand fashion. While many automakers are struggling with losses, the South Korean brand is riding high with year-over-year growth. SUVs are still the top sellers, but that's not what got our attention. The Sonata just posted a 200-percent sales increase for November and is up 46 percent through the year. Sedans are decidedly not dead.

The Sonata currently has the best year-over-year growth for Hyundai's entire North American lineup. It received a significant update for 2024, ditching the big grille and droopy nose for straighter, cleaner lines. Sonata sales took a major jump in the latter half of the year as these models reached dealerships, suggesting buyers really like the new look. If the trend continues, 70,000 Sonatas could find homes by the end of the year. That would place it well ahead of the Santa Cruz and Venue, both of which are struggling to find buyers.

As for Hyundai's other sedan, it's also ending 2024 on a high note. Elantra sales were up 29 percent in November, bringing it even with last year after a slow start. The four-door received a straight-faced refresh similar to the Sonata, but the Elantra is selling in much higher volumes. A total of 125,113 have sold through November, and at this pace, it could get close to 140,000 before the end of the year. It's Hyundai's second-best-selling vehicle behind the Santa Fe, which is down 11 percent through November.

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Hyundai is also bucking the trend with its EVs. Demand across the industry might be down, but Ioniq 5 sales are up 30 percent. That's 39,805 units sold through November, beating the Santa Cruz, Venue, and Ioniq 6. The automaker reports hybrid sales are up 104 percent, with the Tucson hybrid jumping 227 percent.

“Customers continue to be attracted to Hyundai’s diverse vehicle lineup which can meet a variety of customer needs," said Hyundai Motor America CEO Randy Parker. "We also saw significant interest and excitement for the worldwide debut of the U.S.-built Ioniq 9, and we can’t wait to bring it to market next year.”