‘Hyundai Motor Group’, which ranked 2023rd in global sales in 3, must also increase its share of ‘eco-friendly cars’, a future food source

Last year, global sales amounted to 7,302,451 units, up 6.7% from the previous year
Last year, when there were no supply chain issues, sales were boosted solely through product quality
However, the sales volume of the eco-friendly car business ranks 7th globally, and the company has decided to focus more on targeting emerging markets

Hyundai Motor Group sold more than 7.3 million vehicles last year and ranked third among global automakers for two consecutive years. Amid evaluations that the product is being recognized globally, Hyundai Motor Group raised its sales target for this year to 7.44 million units. Eco-friendly vehicles such as electric vehicles also recorded the highest performance ever, growing 13.7% compared to the previous year and selling more than 510,000 units, but their overall market share is still less than 5%. Hyundai Motor Group has decided to increase its market share by actively selling mid- to low-priced electric vehicles this year.

Hyundai Motor Group ranks among the top 3 global automakers for two consecutive years

According to the industry on the 17th, Hyundai Motor Group’s global vehicle sales last year recorded 7,302,451 units, a 6.7% increase from the previous year, ranking third among global automobile groups. Hyundai Motor Group entered the top 10 in global automobile sales for the first time in 2000. Afterwards, it overtook Ford in 2010 and rose to 5th place, and entered 4th place in 2020, when the COVID-19 pandemic had a significant impact on the market. The following year, in 2021, it fell back to 5th place, but rose to 3rd place for the first time in 2022.

Last year, the Toyota Group ranked first in sales, selling 10.65 million units. Volkswagen Group ranked second with 8.8 million units, and Stellantis and the Renault-Nissan-Mitsubishi Alliance, a combination of France’s Renault and Japan’s Nissan and Mitsubishi, ranked fourth and fifth, selling 6.4 million units and 6.28 million units, respectively. From 6th to 10th place were General Motors (4.87 million units), Ford (3.97 million units), Honda (3.95 million units), BYD (3.02 million units), and Suzuki (3.01 million units).

As Hyundai Motor Group has maintained its place in the ‘Top 3’ for two consecutive years, it is evaluated that its marketability is being recognized globally. In a situation where the supply chain was unstable due to the Russia-U.S. war and semiconductor supply shortage after the coronavirus pandemic, production volume was a key factor in determining sales volume, but since last year when the supply chain was normalized, purely marketability has determined the sales volume of automakers.

Hyundai Motor Group showed its determination to further solidify its position in the global market this year with new cars based on marketability. The sales target presented by Hyundai Motor Group this year is 7.44 million units: 4.24 million units for Hyundai Motors (704,000 domestically, 3.539 million overseas), and 3.2 million Kia units (530,000 domestically, 2.663 million overseas, 7,000 special units). all.

Despite the ‘electric vehicle’ performance surprise, the gap with top companies is still ‘barrier’

However, the market share in the eco-friendly vehicle business such as electric vehicles, which is the future growth engine of the automobile industry, is not easily increasing. Hyundai Motor Group is continuously breaking record-breaking performance in the electric vehicle business, but its sales volume is far lower than that of China’s BYD and Tesla, which are competing for first or second place in this field.

According to SNE Research’s ‘Global electric vehicle delivery volume from January to November 2023’ on the 10th, Hyundai Motor Company and Kia’s eco-friendly vehicle sales, including electric vehicles and hybrids, recorded 514,000 units, an increase of 52,000 units from the previous year’s 452,000 units. . The growth rate compared to the previous year was 13.7%, ranking 7th in the global rankings. On the other hand, BYD, which ranked first, delivered 2.556 million units during the same period, recording a growth rate of 60.8%, and Tesla maintained its second place by delivering 1.603 million units and recording a growth rate of 43.8%.

Hyundai Motor Group has set a goal of achieving a 30% growth rate in electric vehicle sales this year and selling around 400,000 electric vehicles. To this end, it plans to raise global awareness of its dedicated electric vehicle brand ‘IONIQ’ and continue to strengthen its hybrid lineup. In addition, the company plans to actively sell mid- to low-priced electric vehicles this year to try to turn things around. Hyundai Motor Company will launch an electric vehicle model of its compact car Casper in the domestic market as early as July, and Kia is also scheduled to release a compact SUV EV3 and a compact electric sedan EV4 this year.

In order to take the lead in emerging markets, countries such as India are also expected to rush the launch of the Creta electric vehicle, a compact SUV. An official from the Department of Automotive Engineering at K University in Korea said, “With the completion of the electric vehicle factory in Georgia, USA, in the second half of this year, we can expect an increase in electric vehicle sales as we will receive a subsidy of 10 million won from the US government starting next year.” He added, “In addition, Tesla and “In order to respond to aggressive price competition led by electric vehicle leaders such as BYD, we need to focus more on developing innovative battery technology and targeting emerging markets,” he said.