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Hyundai, Kia global sales rise despite chip shortage

Hyundai, Kia global sales rise despite chip shortage

Hyundai Motor, South Korea‘s biggest carmaker, said that its sales rose 12% in August from a year earlier despite an extended chip shortage.

Its subsidiary Kia‘s sales also went up 10% last month from a year earlier despite an extended chip shortage.

Hyundai sold a total of 334,794 vehicles in August, up from 300,004 units a year earlier on robust overseas demand for its models, the company said in a statement.

Domestic sales fell 3.5% to 49,224 units from 51,034 during the period, while overseas sales climbed 15% to 285,570 from 248,970, reports Yonhap news agency.

To prop up sales in the second half, Hyundai said it plans to launch the IONIQ 6 all-electric model and other competitive models in global markets.

The IONIQ 6 is the second model embedded with Hyundai Motor Group‘s own EV-only electric-global modular platform (E-GMP) following the IONIQ 5 launched in April last year.

Hyundai plans to introduce the platform-based IONIQ 7 SUV model in 2024. For its all-electric models, Hyundai uses alphanumeric names like its bigger rivals, such as BMW, whose models are named Series No. 1-8.

Hyundai has set a sales goal of 4.32 million units for this year, higher than the 3.89 million sold last year.

Meanwhile, Kia sold a total of 239,887 vehicles in August, up from 217,226 units a year ago on robust overseas demand for its SUV models.

Kia aims to sell 3.15 million vehicles globally this year.

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