By Moses Akaigwe
Hyundai Motor Company has announced its September 2022 global sales of 355,040 units, a 24.4 per cent increase year-over-year. Despite global supply and ongoing geopolitical issues, global sales have recovered steadily this year.
In markets outside of Korea, Hyundai Motor sold a total of 298,130 units, a 23.4 percent increase from a year earlier. Strong sales in North and South America, India and Asia-Pacific markets helped to drive momentum.
Sales in Korea were up by 29.8 percent year-over-year to 56,910 units with solid sales performance by SUV models and Genesis luxury brand vehicles, selling 17,059 units and 9,646 units, respectively.
In spite of unfavorable external conditions, including ongoing components shortages and cost fluctuations of raw materials, Hyundai Motor will continue to alleviate business uncertainties by optimizing production and inventory while diversifying business strategies tailored for each region.
Even though global sales were down by 1 per cent in the period January to September from the year earlier, the decline has been decreasing since mid-year, spurred by global sales recovery. Hyundai Motor aims to capitalize on this trend in the fourth quarter with a strengthened product lineup, including the recently launched IONIQ 6 and the new model of Grandeur sedan to be unveiled at the end of this year.
Earlier at the beginning of September, Hyundai Motor Company had released its August 2022 global sales of 334,794 units, an 11.6 percent increase year-over-year.
In markets outside of Korea, Hyundai Motor sold a total of 285,570 units, a 14.7 percent increase from a year earlier. Despite global component shortages and ongoing geopolitical issues, the sales in global markets have recovered steadily this month.
Sales in Korea were down by 3.5 percent year-over-year to 49,224 units. However, the company maintained solid sales of SUV models and Genesis luxury brand vehicles, selling 15,164 units and 9,617 units, respectively.
In spite of unfavorable external conditions, including ongoing components shortages and cost fluctuations of raw materials, Hyundai Motor will continue to alleviate business uncertainties by optimizing production and inventory status while diversifying business strategies tailored for each region.
Hyundai Motor expects to recover its sales with a strengthened product lineup, including the recently revealed IONIQ 6 and the new model of Grandeur sedan to be unveiled at the end of this year.
In Nigeria where Hyundai is represented by Hyundai Motors Nigeria Ltd, though there is a general lull in the market, the brand has managed to maintain an appreciable level of patronage.