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The Hyundai Motor Group is now the world’s third-largest automaker by gross sales quantity, with the group saying earlier this week that it has offered 3.3 million automobiles within the first half of this yr, Korea Times reported.
Positioned first and second when it comes to gross sales quantity are Toyota with 5.1 million automobiles offered in that interval, whereas the Volkswagen Group offered 4 million automobiles in that point. For comparability, the Hyundai Motor Group ranked fifth in gross sales quantity within the first half of final yr, in line with the report.
Manufacturing setbacks skilled by carmakers worldwide as a result of scarcity in semiconductor provide contributed to the rise within the world market by Hyundai Motor Group, because it had recorded smaller decreases in gross sales – by 5.1% – than these sustained by different producers within the first half of this yr in comparison with the identical time final yr, the report cited consultants as saying.
Carmakers which sustained drops in gross sales in 1H 2022 in comparison with the identical interval final yr included Toyota which was down by 6%, Volkswagen by 14%, Stellantis by 16%, the Renault-Nissan-Mitsubishi alliance by 17.3% and Common Motors by 18.6%, in line with Korea Occasions.
This achieve in world rating for the Hyundai Motor Group was attributed to gross sales will increase by Genesis; the group’s luxurious model recorded gross sales of 25,668 items in the USA, a brand new first-half gross sales report for the model.
On the electrical car entrance, Hyundai Motor Group offered 27,000 EVs in the USA between January and Could this yr, rating the group second after Tesla in gross sales for that market; this was attributed to the recognition of the Hyundai Ioniq 5 and the Kia EV6, Korea Occasions citing a Bloomberg report.
“Plainly Hyundai Motor Group’s distinctive potential to make use of the unprecedented disaster within the vehicle trade as a possibility, similar to the provision scarcity of semiconductors and the transition to electrification, appears to have excelled,” an automotive trade official was quoted as saying.