Seoul/South Korea’s largest car manufacturer Hyundai Motor said on Wednesday that its 2023 sales rose 6.9 percent from a year earlier, helped by the release of new sport utility vehicle models and eco-friendly cars.
Hyundai Motor sold 4,216,680 vehicles last year, up from 3,942,922 units in 2022, driven by strong sales of new SUVs and strengthening of its eco-friendly model lineup, the company said in a statement.
Domestic sales rose 10.6 percent year-on-year to 7,62,077 units, while overseas shipments rose 6.2 percent to 34,54,604 units, news agency Yonhap reported.
According to a company representative, Hyundai was able to strengthen sales in North America and Europe by launching competitive new models and strengthening the company’s eco-friendly vehicle lineup.
Hyundai Motor Group said in a regulatory filing that it aims to sell a total of 74,43,000 vehicles under Hyundai Motor and Kia this year, 1.9 percent more than the group’s combined sales in 2023.
Hyundai Motor’s smaller auto subsidiary Kia said its 2023 sales reached a record high of about 3.08 million units due to a surge in overseas demand for its SUV models.
Kia sold 30,85,771 vehicles last year, up from 29,01,797 vehicles a year ago, which was driven by an increase in sales of its Sportage, Seltos and Sorento SUV models, the company said in a statement.
The company’s previous record was about 3.03 million units in 2014.
Overseas shipments increased 6.7 percent year-on-year to 25,16,383 units and domestic sales increased 4.6 percent to 5,56,660 units.
The company said the Sportage was the most popular model overseas, with around 5,20,000 units sold, while the Sorento was the best-selling model domestically, with 85,811 units sold.
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