South Korean automakers have seen a steep drop in electric vehicle(EV) sales in the months following the passage of the U.S. Inflation Reduction Act(IRA) that excludes South Korean-made EVs from receiving U.S. tax credit.

According to Hyundai Motor's U.S. corporate body on Thursday, the automaker sold one-thousand-191 Ioniq 5 EV models in November, while two units of the Ioniq 2 hybrid vehicles were sold, a 24-point-five percent drop in Ioniq sales compared to October.

Since the IRA was signed into law in mid-August, sales of Ionic models in the U.S. have declined from one-thousand-517 units in August to one-thousand-306 units in September and one-thousand-193 in November.

Sales of sister company Kia Motors' EV6 stood at 641 in November, 46 percent less compared to October.

Hyundai and Kia's overall sales in the U.S., however, broke a record with a combined 125-thousand-13 vehicles sold.