Hyundai Motor, Kia sales rise to record levels in 2023

SEOUL: Hyundai Motor, South Korea's biggest carmaker, said on Wednesday that its 2023 sales rose 6.9 per cent from a year earlier, helped by the release of new sport utility vehicle models and eco-friendly cars.

Hyundai Motor sold 4,216,680 vehicles last year, up from 3,942,922 units in 2022 on strengthened sales of new SUVs and strengthening of its eco-friendly model lineup, the company said in a statement.

Domestic sales rose 10.6 percent on-year to 762,077 units while overseas shipments gained 6.2 percent to 3,454,604 units, reports Yonhap news agency.

According to a company representative, Hyundai was able to "strengthen sales in North America and Europe by launching competitive new models and reinforcing the company's eco-friendly vehicle lineup."

Hyundai Motor Group said in a regulatory filing that it aims to sell a total of 7,443,000 vehicles under Hyundai Motor and Kia combined this year, up 1.9 percent from the group's combined sales in 2023.

Kia, the smaller auto affiliate of Hyundai Motor, said its 2023 sales reached a record high of some 3.08 million units thanks to increased overseas demand for its SUV models.

Kia sold 3,085,771 vehicles last year, up from 2,901,797 units a year ago, on increased sales of its Sportage, Seltos and Sorento SUV models, the company said in a statement.

The company's previous record stood at some 3.03 million units in 2014.

Foreign shipments rose 6.7 percent on-year to 2,516,383 units and domestic sales added 4.6 percent to 556,660 units.

The Sportage was the most popular model overseas, selling around 520,000 units, while the Sorento was the top selling model at home, shipping 85,811 units, the company said.