Kia's EV9 is impressively leaning on its strong international demand. If the sales surge continues, the electric SUV is projected to reach 50,000 sold units in May. It should be noted that this particular model did this within its first year of launch amid issues that the electric vehicle (EV) market will face a slowdown.
Stellar Global Performance of Kia EV9
Since its debut in March 2023 and subsequent delivery launch in Korea in June, the Kia EV9 has sold over 48,000 units globally by April.
The flagship sport utility vehicle, according to KEDGlobal already notched 48,291 sold units. On a monthly basis, Kia sells an average of 2,000 to 3,000 units, according to industry sources.
Remarkably, exports make up 81.4% (39,309 units) of total sales, and from January to April 2024, the EV9 constituted 93% of Kia's exports.
"The EV9 became an outstanding large electric SUV as it was well received in overseas markets," the Seoul-based industry source said.
Strong Overseas Demand Drives Sales Increase
The beginning of 2024 saw a significant uptick in sales, with 12,211 EV9s sold internationally in the first four months. The United States, Kia's largest market, received 5,579 of these units. This robust demand underscores the EV9's global appeal.
Obstacles That Kia EV9 Faces in the Domestic Market
Conversely, the EV9 has faced hurdles in its home market of Korea. Only 970 units were sold between January and March 2024. Reports attribute slow domestic sales to higher prices and initial quality issues.
In response, Kia reduced the EV9's price by up to $2,620 (KRW 3.5 million) in February to stimulate sales.
Record-Breaking Sales in the US
In April, the EV9 contributed to a record EV sales month for Kia in the US, with 1,572 units sold, bringing the year-to-date total to 5,579.
The South Korean automaker anticipates continued growth in EV sales with the upcoming launch of the entry-level EV3 later this year.
Expanding the EV Lineup
Kia introduced the EV3 at its first annual EV Day in October, revealing plans to launch it in Korea in July and Europe in the second half of the year. Priced around $30,000, the EV3 aims to attract budget-conscious buyers.
Following the EV3, Kia plans to release the EV4, an entry-level electric sedan expected to start at $35,000, in response to increasing demand for affordable EVs.
Kia EV9 Will Be Put it Into a Competitive Spot in the EV Market
Kia's commitment to electric vehicles is evident. The EV9, launched at a starting price under $55,000, has been a game-changer in the market, Electrek writes in its report.
The introduction of new models like the EV3 and EV4 will likely bolster Kia's position amidst new competition from the Chevy Blazer EV, Chevy Equinox EV, and Honda Prologue.
Kia is set to begin EV9 production in the US this month, making the model eligible for federal tax credits and enhancing its market competitiveness. Additionally, the company is offering substantial discounts on its EVs in the US, with savings up to $12,800 on 2024 EV6 and EV9 models to clear inventory.
