Hyundai bets on electric vehicles to increase car sales by 10% in 2023 |  Business

Hyundai bets on electric vehicles to increase car sales by 10% in 2023 | Business

Car manufacturers are betting on this change in the market to grow, as Hyundai pointed out in its statement on global sales in 2022, which were below expectations, affected by the lack of microchips and other components made in China, the country most affected by Covid-19 .

This year, supported by improved operations and growth in EV sales, South Korean automaker expects 10% increase in global sales, which would represent a total of 4.3 million vehicles, including electric and combustion-powered vehicles, the newspaper reported. Guardian.

The company, which also owns Kia Motors, also said it will soon launch its first high-performance electric car, with details to be revealed “in the coming months”. In Brazil, there are expectations for the entry of hybrid models Kona and Ioniq in the market this year, SUV and sedan, respectively.

Subscribe to our newsletter here

Hyundai’s sales last year increased by 1.4% from 2021, falling short of its target of 4 million units. However, the company celebrated its performance in 2022, when sales increased by 2.9% outside South Korea, “despite the difficult business environment caused by ongoing pandemic and parts supply issues”.

In Brazil, the South Korean carmaker celebrated its largest market presence in the country in 2022, reaching 10.8% of vehicles sold, according to Fenabrave (National Association of Automotive Distributors). The HB20 model often competes for best seller in the monthly rankings.

In South Korea, the automaker’s sales fell 5.2 percent last year.