As the federal electric vehicle tax credit approaches its end, some buyers are moving quickly to take advantage of it. They’ve made that clear in a recent swelling of purchases for the Hyundai Ioniq 5. The retro-futuristic hatchback just saw a gigantic boost in sales during July. In fact, the brand had a great month overall.

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When we say a huge boost, we’re talking about a 70 percent jump in sales compared to July of 2024. 5,818 people bought an Ioniq 5 in July of 2025. In other words, Hyundai sold almost eight (7.8) of them for every hour of every day of the month, nonstop. For the year, the Ioniq 5 is up 12 percent. Hyundai itself is up 11 percent this year, but let’s break that down further.

Mixed Results Across the Lineup

Most models are either up or down by two digits. For example, in the first seven months of the year, the Santa Cruz and Kona are down 20 and 13 percent, respectively. Their downturns aren’t enough to snuff out the success of other badges, though. The Venue is up 14 percent year over year. The Palisade was up 53 percent in July and is up 13 percent for the year. Both are dwarfed in total sales by the Tucson, which is up 20 percent for the year with 129,716 sales.

“Hyundai delivered an outstanding July, setting an all-time July total sales record with 79,543 units, up 15% year-over-year,” said Randy Parker, president and CEO of Hyundai Motor North America.

HYUNDAI US SALES

“We achieved new records across multiple nameplates, including Elantra HEV, Elantra N, Santa Fe HEV, Palisade, IONIQ 5, and the Santa Fe family, while electrified vehicle sales surged 50% compared to last year. Retail sales climbed 18%, highlighted by strong demand for Santa Fe and Palisade, and a 71% jump in IONIQ 5 retail sales. These results reflect Hyundai’s momentum in sustainable mobility and our ability to deliver an innovative lineup that continues to resonate with customers.”

Interestingly, the Ioniq 5 is a real outlier among the family. It’s the only EV under the Hyundai Motor Group to be outpacing sales when compared to 2024. Technically, the Ioniq 9 is also, but that’s only because it wasn’t on sale last year. That said, the Ioniq 6, Kia EV9, and Kia EV6 are all struggling to match the sales figures they saw in 2024. 

Kia has introduced a slew of affordable electric vehicles including the EV3 and EV4. The company has also shown an EV2 concept, which is headed for production.

Hyundai, on the other hand, has been focused on larger and more expensive vehicles such as the Ioniq 6 N and the Ioniq 9. However, an affordable model is on the way as spy photographers have caught what is believed to be the Ioniq 2.

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The prototype is heavily disguised, but appears to be roughly the same size as the EV2. Despite the similarities, the Kia is positioned as a crossover while the Ioniq 2 is a more traditional hatchback. It sports an upright front fascia with a wide lower intake. They’re joined by an angular sensor and what appears to be slender lighting units.

The profile screams hatchback and the car features a gently sloping roof. We can also see a compact greenhouse as there’s a curvaceous sweeping beltline, which is contrasted by angular upper window frames. Hyundai also gave the prototype a set of modestly sized wheels, which are wrapped in Hankook iON GT rubber. These are summer tires designed specifically for compact electric vehicles.

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The rear end isn’t as tall as the camouflage suggests, but it appears the Ioniq 2 will have an upright rump with a relatively plain bumper. We can also get a glimpse of LED taillights and an angular rear window.

Little is known about the car at this point, but it will presumably have a lot in common with the EV2 as well as the EV3. This means it should ride on the Electric-Global Modular Platform (E-GMP) and have a 58.3 kWh battery pack. They could be joined by a front-mounted motor producing 201 hp (150 kW / 204 PS).

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