August 15, 2022
1 min read

Hyundai ranks 3rd in global vehicle sales

The group’s ranking jumped from fifth with sales of 3.475 million autos in the first half of 2021…reports Asian Lite News

South Korea’s Hyundai Motor Group said on Monday it ranked third in first-half global vehicle sales on increased high-end model sales despite the lack of automotive chips.

Hyundai Motor, its independent Genesis brand and Hyundai’s smaller affiliate Kia Corp. sold a total of 3.299 million vehicles in global markets in the January-June period, following Toyota Motor Group’s 5.138 million units and Volkswagen Group’s 4.006 million units, according to their sales data.

In the first six months, increased sales of Genesis models, the all-electric Hyundai IONIQ 5 and the pure electric Kia EV6 pushed up the Korean carmaker’s sales ranking, reports Yonhap news agency.

The group’s ranking jumped from fifth with sales of 3.475 million autos in the first half of 2021.

The Korean automaker’s first-half sales fell 5.1 per cent from a year earlier, faring better than its global competitors.

Toyota Group’s sales declined 6 per cent, Volkswagen Group’s dropped 14 per cent, Stellantis’ shed 16 per cent, and General Motors plunged 19 per cent.

Stellantis is a 50:50 joint venture set up through the merger of U.S. carmaker Fiat Chrysler Automobiles N.V. and French automaker PSA Groupe.

Hyundai Motor said last week it will spend $424 million to build an artificial intelligence (AI) research centre in the US to bolster its edge in robotics technology, an area it cites as a key future growth driver.

ALSO READ: SEHA boosts Abu Dhabi’s medical tourism industry

Previous Story

The media that sees only what it already believes

Next Story

Uber free loyalty programme to end soon

Latest from Business

Accel Puts India’s AI Power in the Spotlight

Under the theme “Engineering India’s AI Advantage,” the exclusive, invite-only event will bring together leading AI founders, researchers, tech CXOs, policymakers, and global investors….reports Asian Lite News Global venture capital firm Accel

SEBI Warns on Strata Exit

Strata was one of the first platforms to register under SEBI’s newly introduced SM REIT framework, which was designed to regulate fractional ownership in real estate and allow investors to pool capital
Go toTop

Don't Miss

Hyundai, Kia Dominate US Eco-Friendly Car Market

The tally was also higher than the annual sales of

Hyundai Announces Price Hike 

The price increase will be done across models, and the