Hyundai Motor Company, 3,944,579 Units Sold in 2022

[Asia Economy Reporter Hyunseok Yoo] Hyundai Motor Company announced on the 3rd that it sold a total of 3,944,579 vehicles worldwide in 2022, including 688,884 units domestically and 3,255,695 units overseas.

Compared to 2021, domestic sales decreased by 5.2%, but overseas sales increased by 2.9%. In 2022, domestic sales slightly declined due to the resurgence of COVID-19, semiconductor parts supply disruptions, expanding inflation, and economic recession. However, demand in the global automobile market, including the United States, Europe, and emerging markets, generally recovered, and overseas sales increased as Hyundai’s main models and new vehicles continued to perform well.

In the domestic market in 2022, Hyundai sold 688,884 units, a 5.2% decrease compared to 2021. Sedans sold a total of 185,553 units, including 67,030 units of Grandeur, 11,289 units of Ioniq 6, 48,308 units of Sonata, and 58,743 units of Avante.

For SUVs, a total of 213,710 units were sold, including 49,737 units of Palisade, 28,705 units of Santa Fe, 27,399 units of Ioniq 5, 32,890 units of Tucson, and 48,002 units of Casper.

Meanwhile, the domestic market saw remarkable growth in electric vehicle models. Compared to 42,448 units in 2021, electric vehicle sales grew by 65.8% to 70,372 units.

Hyundai is accelerating preparations for subsequent electric vehicle models, leveraging the popularity of the E-GMP-based Ioniq 5 and Ioniq 6, which are built on the dedicated electric vehicle platform. The company also plans to further solidify its position in the global eco-friendly vehicle market.

Commercial vehicles recorded sales of 125,870 units, combining small commercial vehicles such as Porter with 92,411 units sold and Staria with 33,459 units sold. Large commercial vehicles, including medium and large buses and trucks, recorded 28,706 units sold.

Premium brand Genesis sold a total of 135,045 units, including 23,229 units of G90, 47,154 units of G80, 23,439 units of GV80, 29,497 units of GV70, and 5,639 units of GV60.

In overseas markets, Hyundai sold 3,255,695 units, a 2.9% increase compared to 2021.

In 2023, Hyundai plans to pursue market share acquisition and profitability-focused business operations through ▲ agile response to market changes ▲ acceleration of electrification transition ▲ optimization of production, logistics, and sales (SCM) by region ▲ and response to global environmental regulations.

Based on this, Hyundai has set a goal to sell a total of 4,321,000 units this year, including 781,000 units domestically and 3,540,000 units overseas.

A Hyundai Motor Company official said, “Despite the constraints on vehicle supply last year, we had an opportunity to improve the business structure by enhancing the sales mix, incentives, and minimizing inventory. This year, we will launch competitive new models such as the fully redesigned Kona and Santa Fe, as well as the first high-performance electric vehicle Ioniq 5 N model, while actively nurturing ASEAN as a future core market.” He added, “We will continue efforts to become a trusted top-tier eco-friendly brand by developing products suitable for each regional market and strengthening local production systems.”