South Korea car giant Hyundai says it has experienced a massive surge in interest in electric vehicles, which now account for 20 per cent of its order volume, up from 3 per cent before the fuel supply crisis emerged after the breakout of the latest Middle East war.
The company says it has seen a more than four-fold increase in EV orders in March – up to 1,037 from 228 in February – with the Kona EV and the newly released Elexio leading the way.
“EVs now account for 20% of our volume – previously we were at less than 3%,” said Hyundai Motor Company Australia director of sales, David Rodda. “We are planning for a 70% increase in EV orders for the second quarter over Q1.”
Rodda says Hyundai Australia has secured a 158% supply increase of EVs for quarter two to meet this unprecedented level of demand, and these vehicles will start to arrive from May. It is confident the increased supply can continue for the rest of the year.
Hyundai says it has a supply of 1,226 Kona EVs for the second quarter, up from 305 in the March quarter, and also has 1,180 of the new Elexio EVs, up from 750 in the first quarter. Wait times are several months.
It is also increasing its supply of the small Inster (to 255 from 84), and the Ioniq 5 (to 150 from 96). It says the order level in March and April is triple the level of January and February for the Kona, Inster and Ioniq 5, and more than 10-fold for the Elexio.
Hyundai also provided this week by week data of its order numbers, showing the surge in interest in the 3rd and 4th week of March.
Hyundai says it expects to boost order with the release of the Ioniq 3 hatch early next year and the Staria commercial van later this year. It is also seeing a strong interest in hybrid orders, which rose to 3,966 in March from 3,049 in February, and accounted for a record 57 per cent of total orders in March.
See The Driven’s detailed EV sales data here: Australian electric vehicle sales by month in 2026; by model and by brand
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Giles Parkinson is founder and editor of The Driven, and also edits and founded the Renew Economy and One Step Off The Grid web sites. He has been a journalist for nearly 40 years, is a former business and deputy editor of the Australian Financial Review, and owns a Tesla Model 3.