- 4.16 million units in global sales are the company’s goal for 2021. 3.42 million units were sold by A ato overseas; 741,500 were sold in Korea.
January 4, 2021, in SEOUL In light of the ongoing COVID-19 epidemic, the Hyundai Motor Company today reported its 2020 global sales results, which showed a 15.4% reduction from a year earlier.
Sales in the Korea market grew 6.2 percent to 787,854 units, driven by demand for SUV models and the eco-friendly lineup, but exports fell 19.8 percent as weak economic activity dampened demand for cars in most regions.
Hyundai expects to sell 4.16 million vehicles worldwide in 2021 with optimal business strategies by each location, despite the fact that competition in global automotive markets is becoming more fierce this year due to recovering auto demand globally. In Korea, the business plans to sell 741,500 units, and 3.41 million units will be sold internationally. A
Sales for December reached 373,970 units, with 305,484 of those going to foreign markets.
The business will keep taking a variety of actions to look after its clients and provide them with the top products available on the market. With the imminent release of the IONIQ 5, the company’s first solely dedicated BEV model, it also intends to bolster its position as the industry leader in the world of environmentally friendly transportation. A
The monthly sales figures mentioned in this press release are provisional and unaudited.
1. International sales (worldwide sales excluding Korea) are based on wholesales whereas Korean sales are based on retail sales.
2. Sales figures include all Hyundai Motor-built sedan, SUV, and CV vehicles.
Hyundai Motor Company, which was founded in 1967, provides mobility services and a variety of top-of-the-line vehicles in more than 200 nations. In 2019, Hyundai Motor sold more than 4.4 million automobiles worldwide. Approximately 120,000 people work for the company today. The company is expanding its product line with automobiles intended to contribute to the emergence of a more sustainable future while providing ground-breaking answers to contemporary transportation issues. Hyundai wants to support aProgress for Humanity through the process by offering intelligent transportation solutions that foster human connections and give its consumers quality time.
Disclaimer:A Hyundai Motor Company believes that the data shown here is accurate as of the publication date. The company does not guarantee that any material posted will be accurate, but it has the right to add new or updated information as needed.
In This Article...
Korean Automotive Industry
Frequently referred to as Hyundai Motors, the Hyundai Motor Company (Korean: hyeondaejadongca; Hanja: Xian Dai Zi Dong Che ; RR: Hyeondae Jadongchalisten)
In Ulsan, South Korea, Hyundai runs the largest integrated auto manufacturing facility in the world, with a 1.6 million-unit production capacity per year. Around 75,000 employees work for the company internationally. Hyundai sells cars through 5,000 dealerships and showrooms in 193 different countries.
2020 output volume for Hyundai Motor, broken down by factory
The largest automaker in South Korea is Hyundai Motor Company. The Hyundai Motor Group is comprised of it and its subsidiaries, Kia Motors and Genesis Motor. After the German Volkswagen group and the Japanese Toyota group, this group is the third-largest automobile manufacturer in the world.
Hyundai does not rely only on its own sites for manufacturing as it is a multinational, global manufacturer with operations all over the world. As opposed to this, the figure shows that Hyundai has eleven auto manufacturing firms that create cars under the Hyundai name in eight different nations. A total of 2.7 million automobiles were produced in 2019 by the eleven firms and their regional plants, significantly more than the 1.8 million produced by Hyundai’s three domestic plants. The majority of Hyundai-branded automobiles were built at the HMI-operated joint venture’s plants in India. Approximately 682,100 were created in this year. With almost 658,000 automobiles produced, BHMC’s Chinese factories were catching up to second place. However, Hyundai’s two Chinese companies have produced fewer automobiles than in prior years, in contrast to most other nations where output has been gradually rising over the past few years. Similarly, CHMC, which is in charge of producing Hyundai commercial cars in China, reported a decrease in output of almost 6,000 vehicles from the previous year.
In comparison to 2018, Hyundai’s international sales figures decreased by about 184,000 automobiles in 2019. Most markets have seen sales increase, but China has experienced a sales collapse. Hyundai’s answer included shifting its attention from China to India. India is regarded as a market with tremendous growth potential. It already boasts the fourth-largest automobile market in the world, but its vehicle density is nevertheless quite low—about 30 vehicles per 1,000 inhabitants. With a roughly 16% market share, Hyundai Motor India is the second-ranked automaker in India. Additionally, over the previous few years, it has shown consistently rising annual production and sales figures. Both Hyundai and its affiliate Kia are making significant investments in India, including opening new plants and purchasing stock in regional businesses.
“History of Hyundai Motors
The Hyundai Engineering and Construction Company was established in 1947 by Chung Ju-Yung. Later, in 1967, the Hyundai Motor Company was created. Ford Motor Firm and the company collaborated to release the Cortina, the initial model, in 1968. Hyundai hired George Turnbull, the former Managing Director of Austin Morris at British Leyland, when they sought to design their own vehicle. He then engaged five additional renowned British automobile engineers. They were Peter Slater, principal development engineer, John Crosthwaite, ex-BRM chassis engineer, engineers John Simpson and Edward Chapman, and Kenneth Barnett, body designer. The Pony, the first Korean automobile, was introduced in 1975 using motor technology supplied by Mitsubishi Motors of Japan and styling by Giorgio Giugiaro of ItalDesign. The following year, exports started going to Ecuador, and soon after that, the Benelux nations.
Hyundai exported the Pony to Canada in 1984 but did not export it to the US because it did not meet US pollution regulations. Sales in Canada much beyond forecasts, and at one point, it was the most popular vehicle sold there. Hyundai built their millionth vehicle in 1985.
Hyundai started selling automobiles in the US in 1986, and the Excel was recognized by Fortune magazine as “Best Product #10,” largely due to its affordability. In 1988, the business started producing cars using its own technology, starting with the midsize Sonata. Hyundai’s total annual manufacturing of cars surpassed the four million mark in the spring of 1990. The four-cylinder Alpha, the company’s first unique gasoline engine, and its own gearbox were successfully developed in 1991, paving the road for technological independence.
Hyundai Motor India Limited was founded in 1996 and has a manufacturing facility in Irungattukottai, a town close to Chennai, India.
Hyundai started to revamp its image in 1998 in an effort to position itself as a top-tier brand. In 1999, Chung Ju Yung handed over control of Hyundai Motor to his son, Chung Mong Koo. The parent business of Hyundai, Hyundai Motor Group, made significant investments in the long-term research, manufacturing, and quality control of its automobiles. It started an intensive marketing push and extended a 10-year or 100,000-mile (160,000 kilometre) warranty to cars sold in the US.
Hyundai came in second place for “initial quality” in a J.D. Power and Associates survey/study in 2004. One of the top 100 most valuable brands in the world right now is Hyundai. Hyundai has also served as one of the FIFA World Cup’s official global sponsors since 2002.
Chung Mong Koo was the CEO of Hyundai when the South Korean government began an investigation into his methods in 2006 due to suspicions of corruption. Chung was detained on April 28th, 2006, and accused with embezzling 100 billion South Korean won (about US$106 million). He was thus succeeded as CEO of the company by Kim Dong-jin, vice chairman and CEO of Hyundai. Yang Seung Suk announced his resignation as CEO of Hyundai Motor Co. on September 30, 2011. The CEO position’s responsibilities will be split between Chung Mong-koo and Kim Eok-jo during the temporary replacement period.
Overview of Hyundai
Hyundai’s automobiles continue to offer customers a high degree of performance and contentment at a competitive price. Every vehicle in the portfolio reflects Hyundai’s rise as an automaker whose products successfully compete with automobiles from across the world in terms of technology, quality, styling, and refinement.
In the United States, Hyundai originally introduced its subcompact Excel model in 1986. Few Americans at the time were familiar with Hyundai or its products. Since then, Hyundai has modernized and increased its vehicle lineup in the United States, and it now represents more over 2% of the domestic auto market.
Hyundai now sells a whole lineup of automobiles, ranging from the diminutive Accent to the prestigious Santa Fe sport utility vehicle to the opulent Genesis sedan. The vehicles were created solely by Hyundai Motor Company, and Hyundai-designed and -engineered engines and transmissions are installed in them.
Korean Automotive Industry In 1947, Hyundai Engineering and Construction Co. was established by Chung Ju-Yung. Established in 1967, Hyundai Motor Co. (HMC) leads the home Korean car market in terms of sales and exports automobiles to 190 nations worldwide.
In Ulsan, on Korea’s southeast coast, Hyundai Motor Co. runs the largest integrated auto production facility in the world. Hyundai constructed the Namyang Technology Research Center in 1996. It has a $40 million new aeroacoustic wind tunnel and a comprehensive testing facility with a 2.8-mile oval test track. Production at HMC’s cutting-edge Asan Plant, which is situated southeast of Seoul, started that same year.
Hyundai currently runs four foreign centers, including Hyundai America Technical Center, Inc. in Ann Arbor, MI, and Hyundai California Design Center in Fountain Valley, CA, in addition to eight research facilities in Korea. Approximately 4,100 researchers are employed by Hyundai’s automotive technology institutes, which have a yearly budget equal to 5% of current revenues. Vehicles powered by solar energy, hydrogen fuel cells, electric automobiles, low-emission gasoline engines, solar-powered vehicles, and other alternative fuel vehicles are all currently the subject of research.
Established in 1990, the Hyundai California Design Center produces both finished vehicles and innovative design ideas for the automotive industry. Three concept roadsters (HCD-1, HCD-2, and HCD-6) as well as a hybrid sport utility vehicle (HCD-3) as well as the CrossTour sport utility vehicle (HCD-5) and a luxury sedan (HCD-7) are just a few of the cutting-edge vehicles that have come out of the design center. The first generation Hyundai Tiburon sports coupe and the Santa Fe sport utility vehicle both have sporty, streamlined designs that are clearly influenced by the California Design Center.
How many regions is there in Hyundai?
Currently, there are roughly 600 Hyundai dealerships countrywide spread across four areas. In order to more efficiently meet the demands of dealers and customers, the firm started to extend its operations and service networks countrywide as the presence of Hyundai cars and Hyundai Motor America in America continued to increase.
Which nation makes the most usage of Hyundai?
With more than 810,000 car sales in North America in 2020, Hyundai Motor Company led the industry. Europe and Turkey came in second and third, respectively, with 454 thousand and 440 thousand people. China came in last.
Which nations produce Hyundai vehicles?
Hyundai’s plant in Ulsan, South Korea, which also happens to be the largest automobile production facility in the world, is where the great majority of its vehicles are built. Additionally, it runs facilities in Alabama and Mexico that cater to the North American market.
What is the name of Hyundai in America?
A fully owned subsidiary of Hyundai Motor Company is Hyundai Motor America. Hyundai has a total of 19 production facilities worldwide, including its United States manufacturing facility in Montgomery, Alabama, known as Hyundai Motor Manufacturing Alabama.
How many Hyundai factories are there worldwide?
In addition to maintaining 12 manufacturing facilities throughout 10 nations, Hyundai Motor Company also assembles vehicles in assembly plants run by local firms across a number of nations.
Who is Hyundai’s owner?
The major automakers with present presences in the United States are listed below, along with the brands they sell.
BMW, Mini, and Rolls-Royce are all owned by BMW Group. Smart and Mercedes-Benz are owned by Daimler AG. Lincoln and Ford are owned by Ford Motor Co. Chevrolet, GMC, Buick, and Cadillac all belong to General Motors. Hummer is back as a GMC subsidiary brand. In order to co-develop EVs, GM and Honda have an official collaboration. Acura and Honda are owned by Honda Motor Co. It collaborates with GM. Sony Honda Mobility is the name of the electric vehicle firm they founded with Sony. Genesis, Hyundai, and Kia are all owned by Hyundai Motor Group. Mazda is owned by Mazda Motor Corp. Mitsubishi, Nissan, and Infiniti are all owned by the Renault-Nissan-Mitsubishi Alliance. Following the merger of Fiat Chrysler Automobiles and Peugeot S.A., a new company called Stellantis was created. According to the explanation, the word is derived from the Latin verb “stello,” which means “to dazzle with stars.” Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Maserati, and Ram are now under Stellantis and are FCA brands that are offered in the United States. Other Stellantis automobile brands include Citroen, DS Automobiles, Opel, Peugeot, and Vauxhall. Subaru is owned by Subaru Corp. Jaguar and Land Rover are owned by Tata Motors. Owned by Tesla. Lexus and Toyota are owned by Toyota Motor Corp. Additionally, it owns stock in Suzuki and Subaru. The automotive brand VinFast, along with VinHomes, VinBigData, VinBioCare, and VinBrain, are all owned by VinGroup. Audi, Bentley, Bugatti, Lamborghini, Porsche, Scout, and Volkswagen are all brands owned by Volkswagen AG. Volvo, Polestar, and Lotus are all brands owned by Zhejiang Geely Holding Group (ZGH).