Hyundai says EVs now 20 pct of Australian orders as electric interest surges

Hyundai Australia has reported a significant surge in electric vehicle (EV) demand, with EVs now making up 20 per cent of its total order volume—up sharply from just 3 per cent prior to recent geopolitical tensions impacting fuel supplies. The company revealed that EV orders more than quadrupled in March, rising to 1,037 from 228 in February, driven primarily by strong sales of the Kona EV and the newly launched Elexio model. This rapid growth reflects a broader shift in consumer preferences amid rising fuel concerns and increasing awareness of electric mobility. To meet this unprecedented demand, Hyundai Australia has secured a 158 per cent increase in EV supply for the second quarter, with new stock scheduled to arrive from May. The automaker plans to deliver 1,226 Kona EVs and 1,180 Elexio units in the coming months, significantly up from earlier quarters. Supply of other models, including the smaller Inster and the Ioniq 5, has also been boosted, although waiting times remain several months due to the surge in orders. Hyundai noted that order volumes for these vehicles in March and April have tripled compared to the first two months of the year, with the Elexio seeing more than a tenfold increase. David Rodda, Hyundai Motor Company Australia’s director of sales, highlighted the company’s optimistic outlook, forecasting a 70 per cent rise in EV orders in the second quarter relative to the first. He expressed confidence that the increased supply will be sustained throughout the year, supported by the upcoming launch of the Ioniq 3 hatchback early next year and the Staria commercial van later in 2024. Alongside pure electric models, hybrid vehicles are also gaining traction, with hybrid orders reaching a record 57 per cent of total sales in March, up from 3,049 in February to 3,966. This surge in EV and hybrid interest underscores a broader transformation in the Australian automotive market, reflecting shifting consumer attitudes and the impact of global fuel uncertainties. Hyundai’s ability to rapidly scale up supply and introduce new models positions it well to capitalise on this growing demand. The company’s experience may serve as a bellwether for other manufacturers navigating the evolving landscape of electric and hybrid vehicle adoption in Australia.