Hyundai Motor, Kia sell more than 7 million cars in 2023

DPA
·1 min read
1
A Hyundai logo is seen at the North American International Auto Show (NAIAS) in Detroit, Michigan, on the second day of press. Hyundai Motor and its smaller sister company Kia together sold last year more than 7 million cars for the first time since 2019. Uli Deck/dpa
A Hyundai logo is seen at the North American International Auto Show (NAIAS) in Detroit, Michigan, on the second day of press. Hyundai Motor and its smaller sister company Kia together sold last year more than 7 million cars for the first time since 2019. Uli Deck/dpa

Hyundai Motor and its smaller sister company Kia together sold last year more than 7 million cars for the first time since 2019.

The South Korean group's target of 7.52 million cars set at the beginning of 2023 was missed by 3%. Still, global deliveries increased by 6.6% year-on-year to 7.3 million, according to figures presented by the companies on Wednesday.

The group sales target for this year was lowered slightly to 7.44 million cars.

Hyundai Motor alone aims to sell more than 4.24 million vehicles, including models of its Genesis luxury brand.

Last year, Hyundai sold 4.22 million cars, marking an increase of 6.9%.

"Despite a continued rise in interest rates and global inflation, along with the consequent adverse market expectations in the automotive industry, Hyundai saw a significant sales increase in overall global markets, especially in Korea, North America, Europe, and India," a company statement said.

According to Kia, sales last year reached its own record of 3.09 million cars. Kia attributed this success primarily to the increased demand for its SUV models.