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Corporate Information Hyundai Motor Reports January 2024 Global Sales

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Corporate Information Hyundai Motor Reports January 2024 Global Sales

Hyundai Motor Reports January 2024 Global Sales
(Press Release) Hyundai Motor Reports January 2024 Global Sales
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Hyundai Motor Reports January 2024 Global Sales

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Corporate Information 202402011640
Hyundai Motor Reports January 2024 Global Sales

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  • January 2024 global sales totaled 315,555 units, a 1.8% increase Y/y
  • Hyundai Motor sold 265,745 units outside of South Korea, a 2.8% increase Y/y
  • Sales in South Korea were down 3.3% Y/y, to 49,810 units
  • The company targets global sales of more than 4.24 million vehicles in 2024

SEOUL, February 1, 2024 – Hyundai Motor Company today announced global sales of 315,555 units in January 2024, a 1.8 percent year-over-year increase.


The company is maintaining robust sales momentum with its SUVs thanks to the launch of new models, including The all-new SANTA FE and KONA, and strong demand for Hyundai Motor vehicles in major markets.


In January, sales outside South Korea increased by 2.8 percent, to 265,745 units. Solid demand for the brand helped the company achieve robust sales performance in North and South America, Europe and India.


Sales in South Korea decreased by 3.3 percent in January compared with the same month last year, amounting to 49,810 units. This decrease was primarily due to the temporary suspension of production at Hyundai Motor's Asan Plant in South Korea, which is currently revamping its facilities to start electric vehicle (EV) production.


Otherwise, Hyundai Motor's SUV models collectively sold 20,255 units in the domestic market, while the Genesis luxury brand maintained strong momentum with sales of 11,349 units.


In 2024, Hyundai Motor is aiming to achieve global sales of 4.24 million units, including its Genesis luxury brand. The company will optimize its product portfolio and vehicle supply management for each region, targeting the sale of 3.54 million units in overseas markets and 704,000 units in South Korea.


The company plans to take the lead in electrification and focus on optimizing profitability by strengthening its global EV production infrastructure, including Hyundai Motor Group Metaplant Georgia, which is expected to open in the fourth quarter this year, establishing flexible business strategies to adapt to market changes, and reinforcing preemptive risk management capabilities.


■ Sales Results (Units)


Subject
Jan.
’24
Jan.
’23
Y/y Change
Dec.
’23
M/M Change2024 YTD2023 YTDYTD Change
Korea49,81051,503-3.3%62,172-19.9%49,81051,503-3.3%
Outside of Korea265,745258,6202.8%281,002-5.4%265,745258,6202.8%
Global315,555310,123-1.8%343,174-8.0%315,555310,1231.8%


* Monthly sales figures provided in this press release are unaudited and on a preliminary basis.

1. Sales in Korea is based on retail sales while overseas sales (global sales excluding Korea) is based on wholesales.

2. Sales results include sedan, SUV and CV models produced by Hyundai Motor.

3. This press release contains forward-looking statements that are based on current expectations about possible future events. Our actual results may differ due to a variety of factors.

Dain Kang

Global PR Strategy & Planning · Hyundai Motor Company

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Disclaimer: Hyundai Motor Group believes the information contained herein to be accurate at the time of release. However, the company may upload new or updated information if required and assumes that it is not liable for the accuracy of any information interpreted and used by the reader.

About Hyundai Motor Company

Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision ‘Progress for Humanity,’ Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Advanced Air Mobility (AAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services. In pursuit of sustainable future for the world, Hyundai will continue its efforts to introduce zero emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies.


More information about Hyundai Motor and its products can be found at:

https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai

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