Hyundai and Kia shipped 945,062 and 867,136 respective units of automobiles over the January-October period, according to the Korea Automobile & Mobility Association. According to the report, the combined total represented a 17.5% increase over the same period in 2022.
Related: Hyundai and Kia EVs Surpass 100,000 Sales in the US
Industry officials predict that for the entire year of 2023, the carmakers’ overseas sales will surpass 2 million units for the first time since 2016, given their monthly exports of 180,000 units. A Hyundai Motor Group official said:
“The increase came after the group expanded domestic production capabilities to address the rising demand for eco-friendly cars around the globe.”
According to data, the total value of exports for the January–October period was $43.9 billion, surpassing the $41.5 billion total shipments from the previous year. Furthermore, car sales averaged $24,000, a 68% increase over the $14,000 recorded in 2016.
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