While Hyundai’s hybrids are flying off lots, its battery-electric models took a sharp downturn. The numbers mirror a broader industry shift that’s rattling more than just Hyundai.

The automaker reported 70,118 sales last month, down 2% from October 2024. That’s not disastrous, but the details tell the story.

Hybrid sales shot up 41%, while total electrified sales, which include EVs and plug-in hybrids, only rose 8%.

The stars were the Hyundai Tucson, Santa Fe, and Palisade families, all buoyed by new hybrid variants.

But pure EVs? That’s where the wheels came off.

The Hyundai Ioniq 5 plunged 63% year over year, from 4,498 units to just 1,642

Next, the sleek Ioniq 6 sedan dropped 52%.

Even the all-new Ioniq 9, which had early buzz after winning “Electric SUV of Texas,” sold just 317 units.

It’s not a Hyundai-only problem

Kia’s EV9 has cooled off after an early surge, and Ford’s Mustang Mach-E and F-150 Lightning have both seen similar slumps.

The short answer is cost.

Automakers spent years building powerful, high-tech EVs that look and feel like luxury cars, but their price tags now hover between $45,000 and $70,000.

Without the $7,500 federal tax credit, which is no longer available for many imported EVs, the math just doesn’t add up for a lot of families.

Add high interest rates and rising insurance premiums, and suddenly a 300-mile range doesn’t seem like much of a deal.

Company leader says things are just “resetting” after the tax credit sunset

Hyundai’s CEO Randy Parker said in a press release he’s “confident” the market will reset, citing solid fundamentals and record hybrid demand.

He’s not wrong. Hybrids are the new safe bet.

They’re familiar, efficient, and affordable for many Americans. They also give automakers breathing room to meet emissions rules without forcing buyers into a charging lifestyle they’re not ready for.

Meanwhile, upstarts like Slate Auto are trying to fill the gap with tiny, low-cost EV trucks

The company’s upcoming model reportedly targets sub-$25,000 pricing. That’s attention-grabbing, sure.

But the truck’s lack of crash protection, basic comfort, and advanced tech makes it a tough sell for U.S. families who expect their vehicles to multitask as both commuter and fortress.

The reality is that America’s EV transition is stuck in the middle lane

Shoppers like the idea, but not the execution…or the financing.

Hyundai seems to understand that better than most, pivoting hard toward hybrids while keeping its electric lineup alive for when prices and policies “realign.”

If the company’s October report says anything, it’s that buyers haven’t completely lost faith in electrification. They’ve definitely lost patience with its price.