When America’s federal EV tax credit finally ended last fall, sales of EVs tanked across the board. Go figure that when an entire class of car loses a $7,500 incentive that sales will slow down. The near-term outlook for EVs was bleak. However, Hyundai is seeing signs that the EV market is far from dead, as two of its main products have seen big sales this year, including last month.
2026 Hyundai Ioniq 9 Calligraphy trims side by sideHyundai
The Ioniq 9 Is The Big Winner, But Ioniq 5 Sales Are More Telling
Last month, both the Hyundai Ioniq 9 three-row SUV and Ioniq 5 crossover posted big sales gains. The Ioniq 9 had the biggest increase by percentage month-over-month, and especially year-over-year at 279% and 1,225% respectively. That’s partly because the Ioniq 9 was just getting out the door early last year, so sales were quite low. Hyundai only sold 302 of them in May last year, and those were the first sales for 2025.
So, naturally, the percentage change for the 1,145 sales in May this year, and 4,001 for the year is enormous. Even so, May marked the best sales for the Ioniq 9 this year, and total sales for the year have exceeded total sales for all of 2025.
2026 Hyundai Ioniq 9 side-profile view in greenHyundai
A better look at how EVs are doing for Hyundai comes from the Ioniq 5, which is a well-established model in the US. Comparing May 2026 with May 2025, the angular machine is up 28%, going from 3,898 sales to 5,002. As for comparing year-to-date sales between now and last year, sales are also up 16% from 15,920 to 18,395.
What makes this particularly impressive is the fact that at this time last year, the Ioniq 5 was again eligible for the full $7,500 tax credit because it was in production down in Georgia. So, sales this year are exceeding those from last year, even without the credit.
CarBuzz Exclusive Interview With Hyundai North America CEO
We spoke briefly with Hyundai’s North American CEO, Randy Parker, and we asked him what Hyundai was doing to keep EV sales going. He didn’t get too into specifics, highlighting that the company has been keeping up with marketing and advertising campaigns. He said, in regard to the EV market, “We don’t want to give up an inch.”
2026 Hyundai Ioniq 5 from the front three-quarter angle in blue while parkedHyundai
Something we noticed is that Hyundai does seem to be offering incentives on some of its EVs to sweeten deals itself. Last month, it was advertising up to $8,750 in available incentives for the Ioniq 5. Hyundai introduced a more affordable Ioniq 5 variant recently, too. We also wouldn’t be surprised if rapidly rising gas prices are also keeping EV interest up.
Related
The Cheapest Way To Get A 250-Mile Hyundai EV – New or Used
Affordable electric vehicles seem hard to come by, but they do exist.
There’s one clear exception to Hyundai’s rising EV sales, and that’s the Ioniq 6. Part of the reason for that, though, is that the regular model has been discontinued for the US. Hyundai is just selling off existing inventory at this point. We also don’t know sales performance for the electric Kona, since Hyundai didn’t separate it from the main model, or specifically mention it.
Hybrids Are Also Booming
Hyundai also doesn’t separate sales of hybrid models from their conventionally-powered siblings in its sales report, but it definitely keeps track of those numbers. We know because it did give percentages for how well those hybrids are doing, if not exact sales numbers. Hybrids are up 90% comparing 2026 to 2025 year-to-date. At the low end was the Tucson Hybrid with a 10% increase, and at the high end was the Sonata Hybrid with an increase of 250%.
Related
Hyundai’s Best-Selling SUV Just Got Cheaper And Darker
But not at the same time
In fact, it and the Elantra had the biggest percentage gains for hybrids, mirroring the two sedans’ impressive overall sales. Hyundai is also expanding its hybrid offerings for the Tucson this year, which could keep fueling the growth throughout the year. Hyundai also plans on adding hybrid production to the Georgia plant where it builds the Ioniq 5 to keep up with demand, and extended-range EVs are coming to the US market next year.
Grey 2026 Hyundai Palisade Hybrid Calligraphy Exterior Details 4 badgeHyundai
CarBuzz Insight – Why This Matters:
Hyundai’s EV sales success shows that the electric market has some resilience, even in the absence of federal incentives. Sales of used EVs have been strong, too, and automakers such as Toyota have been increasing their presence in the market. It’s likely that the reintroduction of a federal EV incentive would give the market a boost, but it seems that there’s a decent base level of interest. Plus, if gas prices remain high over the next few months, it might even grow without any kind of incentive.
