Hyundai and Kia’s 2023 sales target is now 7.52 million cars, according to figures the companies presented on Tuesday. Hyundai Motor Group is the fifth largest automobile company in the world.
According to the information obtained, the group sold approximately 6.85 million cars in 2022. Therefore, the targeted sales figure is almost ten percent higher. As always, Hyundai announced plans to achieve the goal through “optimized business strategies for each region.”
Hyundai Motor wants to sell 4.32 million vehicles alone, including cars of the luxury Genesis brand. In his New Year’s speech to employees, CEO Chung Euisun acknowledged that “high interest rates, inflation and fluctuations in exchange rates” and the effects of the corona epidemic are still far-reaching.
There are also geopolitical risks. “All these factors lead to more economic uncertainty.” According to Chung, part of the group’s strategy is to continue the electrification transition. The group plans to launch a variety of electric vehicles, including SUVs, this year.
South Koreans want a ten percent share of the world market for battery-powered electric vehicles by 2025. In May last year, Hyundai announced, among other things, that it would build a factory for electric vehicles in the US state of Georgia.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
