According to the South Korean carmaker Hyundai Motor Group, as of the first half of the year 2022, it was third in the world in terms of vehicle sales. Despite the lack of automotive chips, this resulted in higher high-end vehicle sales.
Sales records show that between January and June 2022, Hyundai, its premium brand Genesis, and smaller subsidiary Kia sold a combined 3.299 million vehicles worldwide, trailing only Toyota (5.138 million) and the Volkswagen Group (4.006 million).
The all-electric Hyundai IONIQ 5 and the fully electric Kia EV6, according to Hyundai, have seen increasing sales, which have aided in the company’s rise in the sales rankings. With sales of 3.475 million automobiles in the first half of 2021, the Hyundai Group rose from fifth place to first.
However, despite outperforming its international rivals, the South Korean automaker’s first-half sales decreased 5.1% from a year earlier. Sales for the Toyota Group fell by 6% from the prior year, those for the Volkswagen Group fell by 14%, those for Stellantis fell by 16%, and those for General Motors fell by 19%.
By joining forces with French manufacturer PSA Group and US automaker Fiat Chrysler Automobiles N.V., Stellantis was created as a 50:50 joint venture.
Hyundai Motor said last week that it will invest $424 million in the construction of artificial intelligence (AI) research facility in the US to strengthen its competitiveness in robotics technology, which it identifies as a crucial area for future growth.
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