Hyundai sells 334,794 units worldwide in August, India share grows to 15 percent

Hyundai Motor has reported global sales of 334,794 units in August 2022, an 11.6% increase year-over-year (August 2021: 300,004). Of this Hyundai Motor India accounted for 49,510 units, which accounts for 14.78% of the Korean carmaker’s global sales last month.

Hyundai Motor India’s contribution percentage-wise improves when seen in terms of overseas markets. In markets outside of Korea, Hyundai Motor sold a total of 285,570 units, up 14.7% YoY, which means its Indian arm contributed 17.33% to that total in August 2022.  Sales in the carmaker’s home market of Korea were down by 3.5% YoY to 49,224 units.

In the first eight months of the year, Hyundai has sold a little over 2.5 million units – 2,544,681 units, down 3.8% on the year-ago numbers (January-August 2021: 2,644,649 units). Hyundai Motor India’s cumulative sales in the January-August 2022 period are 367,777 units, very marginally up at 0.59% but they constitute a 14.45% share of Hyundai Motor’s global sales in the first eight months of CY2022.

In its statement, Hyundai said: “Despite global component shortages and ongoing geopolitical issues, the sales in global markets have recovered steadily this month. In spite of unfavourable external conditions, including ongoing components shortages and cost fluctuations of raw materials, Hyundai Motor will continue to alleviate business uncertainties by optimising production and inventory status while diversifying business strategies tailored for each region.”

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