EV
Hyundai and Kia sold 7.3 million vehicles in 2023, expects increase in 2024
Hyundai and Kia shared vehicle sales reports for 2023 as well as an expectation of an increase in vehicle count in the new year.
Hyundai Motor’s 2023 global sales totaled 4.22 million units with an increase of 6.9% year-on-year. The company reported monthly sales of 342,919 units in December, with a decrease of 0.8 percent as compared to December 2022.
Hyundai 2023 Vehicles Sales Statics, Source – Hyundai
On the other hand, Kia reported 3.1 million units shipment for 2023 with a 6.3% increase compared to 2022. Specifically, Kia sold 738,451 units with a 13% year-over-year sale in the U.S.
In December, Kia registered 213,543 units with a 9.2 percent decline compared to 3,038,552 units sold during the same period in 2022.
Kia 2023 Sales Report, Source – Kai
With these numbers, these two companies posted a total of 7.32 million vehicles throughout 2023.
Electric Vehicles:
Hyundai has not shared the shares of EVs for the global market but the company said plans to grow further in EV launch schedules.
“Hyundai plans to take the lead in electrification and focus on optimizing profitability by strengthening its global electric vehicle (EV) production infrastructure, establishing flexible business strategies to adapt to market changes, and reinforcing preemptive risk management capabilities.” wrote the company.
Kia also want to enhance its global EV market by launching new models and improving after-sales services.
“The company will also complete the redevelopment of its Kia AutoLand Gwangmyeong EV plant, which will produce the brand’s EV3, a compact EV, for both domestic and international sales,” mentioned Kia.
Target for 2024:
This year, Hyundai aims to post 4.24 million units this includes 3.54 million units globally and 704,000 units in home grounds.
Meanwhile, Kia says it’s expecting 3.2 million units by 2024 selling 530,000 units in Korea and 2,663,000 vehicles in the global market, while 7,000 units are expected in special purpose vehicles.