Hyundai Narrows Chevy EV Gap as Registrations Diverge
Get the Energy newsletter
Daily energy & climate — solar, EVs, oil, the policy fights and tech bets shaping the transition. Free.
- Hyundai registered 4,936 EVs in April 2026, up 3% year-over-year, closing in on Chevrolet for the #2 EV brand behind Tesla, per S&P Global Mobility data.
- Chevrolet held the #2 spot with 5,890 April registrations, but that figure was down 36% from a year earlier.
- Hyundai IONIQ 5 registrations rose 15% year-over-year, while Chevy Equinox EV registrations fell 30%, according to the same S&P Global Mobility report.
- After the $7,500 federal EV tax credit expired in September, Hyundai cut IONIQ 5 prices by up to $9,800 on select trims to offset the impact — a move the article credits with the model's growth.
- The 2026 Hyundai IONIQ 5 starts at $35,000, offers up to 318 miles of range, includes a built-in NACS port, and was recently named best-of-the-best EV by Kelley Blue Book.
- Toyota EV registrations surged 225% in April, a wildcard the article flags as a complicating factor in the #2 race currently between Hyundai and Chevrolet.
Why it matters: Hyundai's IONIQ 5 is gaining while Chevy's lineup contracts — IONIQ 5 registrations grew 15% as Equinox EV fell 30% in April 2026, and Hyundai's $9,800 post-tax-credit price cuts appear to be paying off. If Hyundai overtakes Chevy, it would reshape the US EV hierarchy behind Tesla, while Toyota's 225% surge adds another variable to that #2 fight.
