Hyundai Motors ranks third in global vehicle sales in 2022 first half

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, Hyundai Motor
Hyundai Motors
IANS Seoul
2 min read Last Updated : Aug 15 2022 | 1:31 PM IST

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.

--IANS

na/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Hyundai MotorsGlobal vehicle sales

First Published: Aug 15 2022 | 1:31 PM IST

Next Story