Hyundai IONIQ 5 Defies Market Trends, Shines in U.S. EV Market

After the U.S. federal government eliminated electric vehicle (EV) tax credits last September, sales of most EV models plummeted—but the Hyundai IONIQ 5 bucked the trend. In the first quarter of 2026, its sales rose 14% year-over-year to 9,790 units. In stark contrast, sales of the IONIQ 6 plunged by 75%, effectively vanishing from the U.S. market. Hyundai achieved a record-high quarterly sales volume overall, delivering 205,388 vehicles in the first quarter—a 1.0% increase year-over-year. Strong performances came from its gasoline and hybrid models: hybrid versions of the Santa Fe, Elantra, and Sonata saw sales surge by 47%, 141%, and 107%, respectively. The brand’s best-selling model remained the Tucson, with 55,426 units sold, followed closely by the Santa Fe and Elantra. Sales of the compact SUV Venue also grew by 12%. Despite plans to discontinue certain models like the Santa Cruz, Hyundai has maintained market momentum through its diversified product lineup.