Latest news with #Evanoff
Yahoo
26-02-2025
- Automotive
- Yahoo
Hyundai Says The Ioniq 5 N Is Selling Well Despite It Making Up Just Five Percent Of Ioniq Sales
The Hyundai Ioniq 5 N is a performance EV that's actually amazing to drive, and that's not just something we're saying here at Jalopnik — it's backed up in the automotive world as a whole. Since its debut in 2023, the Ioniq 5 N has racked up award after award. It was the 2024 World Performance Car of the Year, Road & Track named it the 2025 Performance EV of the Year in their sub-$100,000 category, it recently received the Driver's Choice Award from MotorWeek, and it even beat the Chevy Corvette in a MotorTrend comparison test. The Ioniq 5 N's performance for the price point is nothing short of astonishing. Here's an EV that costs less than $70,000 that's just three tenths of a second slower to 60 mph than a PDK-equipped Porsche 911 GT3 and is only a couple seconds slower around the Nürburgring than a BMW M2 CS. Any enthusiast should appreciate that kind of performance. According to Hyundai, there aren't that many buyers going for the Ioniq 5 N, but that doesn't mean it's a flop — despite its low volume, Hyundai sees the Ioniq 5 N as a sales success. Read more: The 2024 Hyundai Santa Fe Is The Crossover To End All Crossovers Road & Track spoke to Hyundai's senior product planning manager Mike Evanhoff about just how well the Ioniq 5 N is doing for the brand. Like most automakers, Hyundai doesn't separate sales numbers for specific trims of a single model when reporting quarterly sales; every Ioniq 5 sold is grouped into one big number. While Evanhoff couldn't exactly say how many Ioniq 5 Ns have been sold, he did give a rough estimate. From Road & Track: "It was never intended to be a huge mix," Evanoff tells Road & Track. "So it is less than 5% and below ... but yes, it's selling well, and it's a very niche product." The Ioniq 5 N being a niche product isn't exactly surprising. The buyer pool for those who want a near-$70,000, 601-horsepower electric hot hatch is only so big. Some might see that percentage and call the Ioniq 5 N a flop, but crunch the numbers like Road & Track did and you'll see its sales results aren't really out of the ordinary. Let's do some quick math. The Ioniq 5 N went on sale in Q2 last year, and Hyundai sold a total of 37,578 Ioniq 5s in the United States from Q2 through the end of 2024. If around 5% of those were N models, that'd put 2024 sales just under the 1900 mark. Considering that Evanoff suggested the proportion of Ns was 5% "and below," however, the actual number of sales could be well below that, perhaps dipping closer to 1500 than 2000 for the year. Around 2,000 units sold of such a niche performance product sounds pretty good to us — Porsche sold 2,693 Taycans in the U.S. over the same time frame, for example. Road & Track mentions the Ioniq 5 N's sales results also line up with the Elantra N's sales, which they estimate to be about 5,500 during the same time last year. And things could always be worse. Consider that Kia once said that the performance version of the Forte sedan, the Forte GT, made up just two percent of Forte sales. When you consider that Kia sold almost 140,000 Fortes in its last full year on sale, that amounts to fewer than 2,800 being the Forte GT. Now that's a flop. The Ioniq 5 N also seems to be bringing in buyers from other brands. Road & Track pressed Evanoff about what kinds of cars Hyundai seeing people trade in for the Ioniq 5 N. While he didn't name a specific brand or model, Evanoff did say that buyers are coming from both gas and EV models. "A lot of it, it's coming from you know either higher horsepower cars or just pure ICE cars. This is their first EV, but they want a performance EV," Evanoff told Road & Track. So don't let the low sales of the Ioniq 5 N fool you. It's selling just fine for what it is. Read the original article on Jalopnik.
Yahoo
19-02-2025
- Automotive
- Yahoo
The Ioniq 5 N Isn't Moving in Big Numbers, But Hyundai Says It's 'Selling Well'
The electric hot hatch known as Hyundai Ioniq 5 N is approaching the one-year anniversary of its sales launch in spring 2024. It's won a whole lot of critical praise, including our 2025 Performance EV of the Year award for the under-$100,000 category. Clearly, the goods are there inside what's one of the first high-performance EVs designed with the racetrack in mind — but are enthusiasts responding by taking them home? Unfortunately, Hyundai does not individually break out Ioniq 5 N sales from the Ioniq 5 model as a whole, so an exact figure is not possible. When queried, though, senior manager of product planning Mike Evanoff let on that the proportion of Ns sold are, at most, one-twentieth of the electric crossover's total volume. 'It was never intended to be a huge mix,' Evanoff tells Road & Track. "So it is less than 5% and below... but yes, it's selling well, and it's a very niche product.' Let's do some quick math. The Ioniq 5 N went on sale in Q2 last year, and Hyundai sold a total of 37,578 Ioniq 5s from Q2 through the end of 2024. If around 5% of those were N models, that'd put 2024 sales just under the 1900 mark. Considering that Evanoff suggested the proportion of Ns was 5% 'and below,' however, the actual number of sales could be well below that, perhaps dipping closer to 1500 than 2000 for the year. But Hyundai considers those numbers 'selling well' for the time being – check out the best-selling sports cars of 2024 numbers here for comparison. It's also consistent with the sales breakdown of its other performance model, the Elantra N. Just like the Ioniq 5 N, Evanoff says the Elantra N accounts for a portion around/below the 5% mark. Of course, the Elantra sells in far greater numbers; we'd approximate Elantra N sales to be right around 5500 for the same timeframe. Don't be too surprised at such a disparity between the two, though. An Elantra N stickers for $35,100 and the Ioniq 5 N for $67,475, making the former far more accessible. In addition to overall sales, we asked about what sort of cars people are swapping from when they buy the Ioniq 5 N. 'A lot of it, it's coming from you know either higher horsepower cars or just pure ICE cars,' Evanoff starts. 'This is their first EV, but they want a performance EV.' We'll see how this plays out in time, but it seems Hyundai is feeling optimistic about the Ioniq 5 N's U.S. reception so far. But the brand isn't planning to let the hot hatch crossover stand still in terms of updates while buyers take them in; Evanoff tells us the 2026 model year will see the 5 N's transition to the North American Charging Standard, along with the rest of the Ioniq 5 lineup that makes the switchover for 2025. You Might Also Like You Need a Torque Wrench in Your Toolbox Tested: Best Car Interior Cleaners The Man Who Signs Every Car
