Seoul - Hyundai Motor Co., the largest automaker in South Korea, announced a 6.9 percent increase in its sales for the year 2023. This growth is attributed to the introduction of new sport utility vehicle (SUV) models and an expanded range of eco-friendly vehicles.
According to Yonhap News Agency, the company achieved sales of 4,216,680 vehicles in 2023, a significant increase from the 3,942,922 units sold in 2022. This rise in sales was driven by robust performance in new SUVs and the strengthening of Hyundai's eco-friendly model lineup.
The company experienced a 10.6 percent increase in domestic sales, totaling 762,077 units. Overseas sales also saw a notable rise of 6.2 percent, reaching 3,454,604 units. A company representative credited this success to Hyundai's strategic focus on enhancing its presence in North American and European markets through the launch of competitive new models and an emphasis on eco-friendly vehicles.
Looking forward, Hyundai Motor Group, which includes both Hyundai Motor and Kia, has set an ambitious sales target for the current year. As outlined in a regulatory filing, the group aims to sell a total of 7,443,000 vehicles in 2024, marking a 1.9 percent increase from their combined sales in 2023.