7.1 million targeted
Hyundai wants to sell more cars in 2023
Despite economic uncertainties, Hyundai Motor and its smaller sister Kia want to sell significantly more cars in the new year. The South Korean manufacturers renewed their goal of jointly surpassing the threshold of seven million cars in one year.
Hyundai wants to sell significantly more cars in the new year than in 2022. Above all, sales of electric vehicles are to be increased. (Archive image)
Hyundai and Kia’s sales target for 2023 is now even 7.52 million cars sold, according to the figures the companies presented on Tuesday. The Hyundai Motor Group is the world’s fifth largest car company.
According to the information, the group sold almost 6.85 million cars in 2022. The targeted sales figure is therefore almost ten percent higher. As usual, Hyundai announced that it intends to achieve the goal through “optimized business strategies for each region”.
Hyundai Motor wants to sell 4.32 million vehicles alone, including cars from the luxury brand Genesis. In his New Year’s speech to employees, CEO Chung Euisun admitted that the effects of the corona pandemic were still very far-reaching – with “higher interest rates, inflation and fluctuations in exchange rates”.
There are also geopolitical risks. “All of these factors are leading to greater economic uncertainty.” According to Chung, part of the group’s strategy is to continue the transition to electrification. The group plans to launch various electric vehicles including SUVs this year.
The South Koreans want to achieve a ten percent share of the world market for battery-powered electric vehicles by 2025. In May last year, Hyundai announced, among other things, that it would build a factory for electric vehicles in the US state of Georgia.
(SDA)