Hyundai Motors announced 4% growth in July global sales

Hyundai Motors announced 4% growth in July global sales

SEOUL: Hyundai Motor Company on Monday announced that its July 2022 global sales registered an increase of 4 per cent to 325,999 units.

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In markets outside of Korea, Hyundai Motor sold a total of 269,694 units, a 6.3 percent increase from a year earlier.

Despite global component shortages and ongoing geopolitical issues, the sales in global markets have recovered steadily this year.

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Sales in Korea were down by 5.9 percent year-over-year to 56,305 units. However, the company maintained solid sales of SUV models and Genesis luxury brand vehicles, selling 15,371 units and 10,512 units, respectively.

Amid fiercer competition in the global electric vehicle (EV) market, the company is solidifying its position as an EV leader. In July, Hyundai sold over 16,000 EVs on a retail sales basis, a 24 percent increase from a year earlier, with more than 8,000 units of IONIQ 5 leading the way.

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In spite of unfavorable external conditions, including ongoing components shortages and cost fluctuations of raw materials, Hyundai will continue to alleviate business uncertainties by optimizing production and inventory status while diversifying business strategies tailored for each region.

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