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By Moses Akaigwe
Hyundai Motor Company has announced that it sold 3,944,579 vehicles in 2022, a 1.4 per cent increase year-on-year.
Despite the challenging business environment caused by the ongoing pandemic and component supply issues, sales outside of Korea increased 2.9 percent to 3,255,695 units, thanks to the demand recoveries in global auto markets.
This was supported by the strong sales of the company’s flagship and new models. Sales in Korea totaled 688,884 units, a 5.2 percent decline from a year earlier.
For December 2022, Hyundai’s monthly global sales totaled 347,340 units, including 276,953 for overseas markets and 70,387 for the Korean market.
Hyundai was also able to accelerate its transition to electrification last year, thanks to the strong sales of IONIQ 5 and the successful launch of IONIQ 6. The IONIQ 5 and IONIQ 6 together recorded over 100,000 units of global sales in 2022.
In 2023, Hyundai is aiming global sales of 4.32 million units, including its Genesis luxury brand, with optimized business strategies tailored for each region. The company aims to sell 3.54 million units in overseas markets and 781,000 units in Korea.
Hyundai plans to expand market share and operate profitability-oriented businesses by flexibly responding to market changes, accelerating its transition to electrification, responding to global environmental regulations, and optimizing production, logistics and sales by region.
The company will also continue implementing diverse measures to take care of its customers and to offer the world’s best products to meet their needs, including the all-new KONA, Santa Fe, and IONIQ 5 N, the company’s first high-performance EV, with details to be unveiled in the coming months. Furthermore, the company plans to solidify its global leadership in the eco-friendly mobility market through its award-winning IONIQ dedicated EV models.
In Nigeria, where the brand’s representative, Hyundai Motors Nigeria Ltd, assembles its vehicles at a plant in the commercial capital, Lagos, Hyundai remains one of the best sellers despite the lull in the market.
“Hyundai continues to offer customers a wide-array of products that meet and exceed customer expectations,” said Olabisi Boyle , Vice President, product planning and mobility strategy, Hyundai Motor North America. “Leading the industry for the most awards by U.S. News & World Report for their 2023 Best Cars for the Money competition, is a tribute to the high level of content, features and technology we include within our products at an attainable price-point.”
Covering 12 automotive categories, the awards put a spotlight on cars and SUVs that represent the best combination of long-term value and excellent ownership experience. Scores are based on safety and reliability data, as well as the collective opinion of the automotive press. The awards also factor in real-time transaction prices and five-year total cost of ownership.
“The fact that Hyundai took home four Best Car for the Money awards is a testament to the quality and long-term value offered by the brand,” said Jim Sharifi , managing editor of U.S. News Best Cars. “The Elantra Hybrid, Kona, Palisade and Santa Fe all provide the assurance of an excellent powertrain warranty, which helps keep repair costs at bay. All four winners also provide useful interior technology as standard equipment, and competitive pricing makes them an appealing choice as new car prices continue to rise.”
