TechQuickie, February 21 - As electric vehicles become increasingly mature, many joint venture brands seem to have faded out of our lives. In recent years, the sales of Hyundai Motor, once ubiquitous on the streets, have also shown a decline.
But, has Hyundai Motor's sales really declined?
According to media reports, Hyundai Motor Group achieved global sales of 7.34 million units in 2023, ranking third worldwide.
This marks Hyundai's consecutive two-year presence in the global top three.
It's reported that Toyota Group claimed the top spot in 2023 for automotive sales, with Volkswagen Group closely following in second place.
From the data, it's evident that Hyundai still faces a significant gap to surpass Volkswagen Group, which holds the second position.
In 2023, the South Korean automotive group achieved a sales growth rate of 6.7%. This falls behind Toyota (7.2%) and Volkswagen (11.8%), respectively, in the first and second positions.
In response to the ongoing electrification trend, Hyundai Motor Group plans to stimulate volume growth by completing its electric vehicle factory in Georgia, USA.
In the recently ignited price war in the domestic market, Beijing Hyundai has announced a straight reduction of 24,000 CNY for its Elantra model, bringing it down to a starting price of 75,800 CNY.
It's worth noting that Beijing Hyundai has also launched the slogan "Fuel Is Stronger Than Electricity," indicating its determination to compete with new energy vehicles.
As for whether Hyundai's sales can continue to grow, let's wait and see together.
