Hyundai and Kia's combined sales in the Indian market will exceed 9 million vehicles

News on July 17, according to the editor's knowledge recently, Hyundai Motor Group stated that it expects cumulative car sales in the Indian market to reach 9 million units later this year.

According to Hyundai Motor's data, as of June 2023, the group's cumulative vehicle sales in the Indian market have reached 8.69 million vehicles, including 758,000 Kia Motors vehicles. Based on this trend analysis, we expect Hyundai and Kia's combined sales in the Indian market to reach more than 9 million units in the fourth quarter of this year. As of the first half of 2023, in the Indian market, Hyundai and Kia's combined market share reached 21.3%.

Further analysis of previous official data shows that Hyundai Motor’s global sales in 2022 will be 3.944579 units, an increase of 1.4% from 2021; Kia Motors’ 2022 sales will be 2,903,619 vehicles, an increase of 4.6% compared to 2021. Taken together, the Hyundai-Kia Group's total vehicle sales in 2022 will be 6,848,198 units, making it the world's third-largest automaker after Toyota and Volkswagen.

It needs to be emphasized that most of Hyundai and Kia’s car sales come from overseas markets, rather than relying on the Korean domestic market. In 2022, Hyundai Motor sold approximately 3.25 million vehicles in markets outside South Korea, an increase of 2.9% from the same period last year. In the first quarter of 2023, Kia Motors' global sales reached 768,000 vehicles, achieving a year-on-year growth of 12%. Among them, Hyundai Motor's car sales in overseas markets reached 626,000 units, a year-on-year increase of 11.1%; while car sales in the Korean domestic market were 141,000 units, a year-on-year increase of 16.5%.

According to us, Hyundai Motor Group’s sales in the Indian market have been growing and are expected to exceed 9 million units by the end of this year. At the same time, Hyundai and Kia have shown good growth momentum in the global automobile market and become one of the important competitors, especially in overseas sales.

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