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Hyundai Motor Group ranks third globally in car sales for the second consecutive year

Hyundai Motor Group ranks third globally in car sales for the second consecutive year

By Mohamed nasar

Published: February 18, 2024


Data released today, Sunday, showed that Hyundai Motor Group ranked third in global car sales for the second consecutive year.

According to the data released by each company, Hyundai Motor Group's affiliated companies Hyundai Motor, Kia, and Genesis sold a total of 7 million and 304 thousand units worldwide last year, ranking third after Toyota Group and Volkswagen Group, which sold 11 million and 233 thousand units and 9 million and 240 thousand units respectively.

In 2022, Hyundai Motor Group advanced to third place for the first time and maintained its ranking for the second consecutive year, according to the South Korean news agency Yonhap.

The Renault-Nissan-Mitsubishi Alliance and the American General Motors Group came in fourth and fifth place respectively.

The gap between Hyundai Motor Group and the Renault-Nissan-Mitsubishi Alliance widened from 688 thousand units in 2022 to 905 thousand units last year.

Hyundai Motor Group’s global sales have steadily increased over the past twenty years.

The group continued its climb in the rankings after holding tenth place in 2000, entering the "Big Five Groups" list for the first time in 2010, surpassing the American company Ford.

However, the group remained in fifth place ever since due to fierce competition among car manufacturers. In 2020, its ranking rose to fourth place for the first time. But it dropped back to fifth place the following year, then jumped to third place in 2022.

In 2022, Hyundai Motor Group was the only group to achieve positive growth of 2.7% in sales among the six major car groups, but Toyota and Volkswagen achieved growth rates of 7.2% and 11.8% respectively in sales last year, surpassing Hyundai Group which recorded 6.7%.

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