Low-cost models of Kia and Hyundai of the new generation caused a stir

Kia and Hyundai's new generation of modern electric models have caused a real stir in the market. Their cars are always cheaper than their competitors, so the reasons for the high demand are clear. This is happening against the backdrop of a global decline in demand for EVs in the world.

This is reported by Motor1. Referring to sales statistics, it is noted that the demand for Kia and Hyundai electric cars is now very high. For example, in the United States, Kia has sold 29,392 electric cars since the beginning of 2024 and has updated its own record.

Hyundai sold another 26,554 electric cars. Interestingly, purchasing power in the electric vehicle sector has recently declined, influenced by buyers' incomes, car prices, and interest rates used to calculate loan terms. The latter are still quite high, which limits affordability.

Currently, Korean companies do not produce their electric models in the United States. Therefore, unlike many other companies, buyers cannot count on tax incentives for purchases of up to $7,500. And this has no impact on demand.

Automakers say that their sales in the segment are in full order. It is not demand that is limiting them now, but supply.