Follow Us on Google
By Moses Akaigwe
Hyundai Motor Company has announced 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 has assured it would 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 the market is witnessing a lull, the brand’s representative, Hyundai Motors Nigeria Ltd {a part of Stallion Motors} lying the flag high – assembling a range of vehicles according to the needs and tastes of its teeming customers across the country.
In a related development, Hyundai Motor has recorded a significant recovery in Europe in the first nine months of 2021, according to the latest data from the European Automobile Manufacturers Association (ACEA).
The automaker’s year-to-date market share rose to 4.2 per cent, up 0.6 percentage points from 2020 in EU, EFTA and UK.
During this period, the company sold 383,429 units across the continent. This corresponds to an increase of 24.2 per cent compared to January-September 2020, outperforming the overall market trend.
Additionally, the number of Hyundai cars produced in Europe rose to 75 per cent of the company’s overall sales. The main sales drivers included Tucson, i20 and Kona. Other popular models include the company’s future mobility line-up, such as IONIQ 5, which celebrated its world premiere in February.
Hyundai was able to overcome the challenging start to the year. The supply chain management made it possible for the auto maker to gain momentum also throughout the recent months.
Thanks to its progressive electrified line-up spearheaded by IONIQ 5, we are outperforming the market trend. With its broad fleet that includes BEVs, FCEVs and hybrid models, Hyundai offers a full range of electrified powertrains that no other manufacturer can offer.
Another key contributor to Hyundai’s success has been the brand’s multiple new product launches in recent years. The company now boasts one of the youngest line-ups in the industry.
In coming years, Hyundai intends to establish itself as one of the top three producers of BEVs globally. With this continued investment in electric vehicles and focus on qualitative growth, the company expects to sustain its position as a leader in future mobility.
