Hyundai Motor Group Is Now The 3rd Largest Carmaker In The World

Hyundai Motor Group comprising Hyundai, Kia and Genesis sold more than 3.3 million vehicles in the first half of this year

Hyundai Motor Group has become the world’s third largest car producer in terms of sales as it has retailed more than 3.3 million vehicles in the first half of this calendar year. Toyota stands at the very top with a sales tally of 5.1 million vehicles during the same period while VW Group finished in the second position with a total of 4 million unit sales.

In comparison to the same period last CY (H1 2021), Hyundai Motor Group finished in the fifth position when total volumes are considered according to a report. It has been said that production issues faced by car producers across the globe due to the semiconductor shortage have been the main contributor with the Korean conglomerate recording only a 5.1 per cent drop in sales.

This has been minimal compared to other carmakers in H1 2022 reportedly. One of the main factors behind the impressive sales numbers is the volume momentum of the luxury brand Genesis. In the first half of 2022, General Motors endured an 18.6 per cent drop, Renault-Nissan-Mitsubishi by 17.3 per cent, Stellantis by 16 per cent, VW by 14 per cent and Toyota by 6 per cent.

Hyundai Motor Group’s Genesis contributed to a total of 25,668 units in the United States alone, a new record for the company. HMG registered 27,000 electric vehicle sales in the US in the period between January and May 2022 as it was only second to America’s own Tesla. The Hyundai Ioniq 5 was crowned 2022 World Car of the Year recently and the Kia EV6 was awarded 2022 European Car of the Year.

Both are based on the same E-GMP dedicated skateboard EV architecture. The EV6 crossover made its local debut a few months ago and is brought into the country via CBU route. Its sibling, the Hyundai Ioniq 5, will be introduced in India in the coming months and it could be offered in its base configuration.

Unlike the Kia EV6, the Ioniq 5 will likely be locally assembled and it could cost under Rs. 50 lakh (ex-showroom). Hyundai will launch the Venue N Line next in India and it will be followed by the Ioniq 5 and Creta facelift likely in early 2023.