Wednesday, March 2, 2016

Prius Killer Not Killing Many Priuses

Ah, the wild tales of the Hyundai Ioniq continue, undiminished by any reality or even a dismal sales projection from Hyundai itself. So, faithful reader, let's hear this latest tale of Prius killing...
It has been more than a month since Hyundai Motor launched its much-hyped Ioniq, an environmentally friendly compact car that’s gained the nickname “Prius killer” for its competitive fuel economy and features.
Well, it has indeed been a month. And how has that gone?
But sales in the first month since its launch proved disappointing. 
Hyundai started selling the Ioniq on Jan. 14 and only shifted 493 by the end of the month. In order for the company to meet its goal, it needs to sell nearly 1,250 Ioniq units every month. 
And keep in mind, this is based on what, by any account, is a low global sales target, a fraction of the rate Prius sells at.
There are numerous reasons for the poor sales, including the release of new Prius and Chevrolet Volt models this year.

Other experts attribute the sales to plummeting crude prices, which might have led potential customers to focus less on fuel efficiency when looking for a new car. 

Some local media outlets have reported that Ioniq sales in February are increasing very fast, though official data has yet to be released. 
So yeah, that. It might be selling faster but no one is saying yet. Another thing to keep in mind, this climate of cheap gas that is slowing sales down also affects Volt and Prius in the identical manner, so, bad news, thus far, for Hyundai on their home turf. Maybe Ioniq will fare better elsewhere?