Hyundai Motor and Kia Perform Well Amid Semiconductor Crisis, Sales Volume Actually Increased (Comprehensive)

Slight Increase in Sales Last Year Amid COVID-19 and Automotive Semiconductor Crisis
Plan to Boost Sales This Year with Eco-Friendly Vehicles Leading the Way

[Asia Economy Reporters Changhwan Lee and Jehun Yoo] Despite the challenges faced by the automotive industry last year due to COVID-19 and the resulting shortage of automotive semiconductors, Hyundai Motor Company and Kia recorded increased sales compared to the previous year.

Hyundai Motor announced on the 3rd that it sold a total of 3,890,981 vehicles last year, marking a 3.9% increase compared to the same period the previous year. During the same period, Kia sold approximately 2.77 million vehicles, up about 6% from the previous year.

Domestic Market Sales Slightly Decline Amid Semiconductor Shortage

Hyundai Motor sold 726,838 vehicles in the domestic market last year, a 7.7% decrease compared to the previous year. The ongoing shortage of automotive semiconductors led to longer delivery wait times, impacting sales.

Sales in the domestic market were led by eco-friendly vehicle models.

Hyundai’s hybrid model sales grew by 3.4% compared to 2020, reaching 68,416 units; electric vehicle sales surged 128.1% to 42,448 units; and hydrogen fuel cell vehicles (Nexo) increased by 46.9% to 8,502 units.

For sedans, the Grandeur sold 89,084 units, Sonata 63,109 units, and Avante 71,036 units, totaling 223,741 units.

For RVs (recreational vehicles), the Palisade sold 52,338 units, Santa Fe 41,600 units, Tucson 48,376 units, Ioniq 5 22,671 units, and Casper 10,806 units, totaling 210,033 units.

Hyundai emphasized that it plans to solidify its position in the global eco-friendly vehicle market by accelerating preparations for follow-up electric vehicle models, leveraging the popularity of the Ioniq 5, the first dedicated electric vehicle based on the E-GMP platform.

The premium brand Genesis sold a total of 138,756 units, including 59,463 G80s, 1,190 GV60s, 40,994 GV70s, and 24,591 GV80s.

Kia sold 535,016 vehicles domestically, a 3.1% decrease compared to the previous year. The Carnival led domestic sales with 73,503 units, followed by Sorento with 69,934 units and Bongo 3 with 59,729 units.

Among passenger car models, a total of 208,503 units were sold, with the K5 leading at 59,499 units, followed by the K8 at 46,741 units and the Ray at 35,956 units.

RV models, in addition to the Carnival and Sorento, included the Seltos with 40,090 units and the Sportage with 39,762 units, totaling 264,198 units sold.

Both Companies Show Strong Performance in Overseas Markets

Both companies performed better in overseas markets than in the domestic market.

Hyundai Motor sold 3,164,143 vehicles overseas in 2021, a 7.0% increase compared to 2020.

During the same period, Kia recorded 2,242,040 units sold overseas, up 9.1%. By model, the Sportage led with 323,868 units, followed by the Seltos with 258,647 units and the Pride with 219,958 units.

The increase in overseas sales is attributed to a base effect from the COVID-19 impact and the recovery of demand in global automotive markets including the U.S., Europe, and emerging markets.

A Hyundai Motor official stated, "Despite ongoing management uncertainties such as semiconductor parts issues last year, we minimized the impact of supply delays through adjustments in vehicle production schedules and achieved global sales growth by being recognized for excellent product quality. This year, we will strive to become a trusted top-tier eco-friendly brand by launching competitive new models such as the Ioniq 6 and the electrified GV70, along with solid sales strategies."

This content was produced with the assistance of AI translation services.