Hyundai Electric Vehicles Capitalize on High Gas Prices

The rise in gasoline prices in the United States, driven by the geopolitical situation, has led consumers to reconsider electric vehicles—at least among those who prefer the Hyundai brand, according to CEO José Muñoz.

During his participation in the Semafor World Economy Forum, organized by the international publication of the same name in Washington, D.C., the executive revealed that sales of its zero-emission models increased by 40% between February and March.

Muñoz explained that in March, Hyundai returned to the sales volume of electric vehicles it had maintained before the expiration of tax credits for such vehicles at the end of the third quarter of last year.

“We’re happy with that, but we’d like to sell even more,” insisted the executive, who also added that the sales performance highlights the fluctuating nature of the automotive market in recent years.

“One day, dealers call you and say, ‘Please stop producing electric vehicles.’ The next day, they call you and ask, ‘Why aren’t you producing more?’” he quipped.