After most automotive players announced how they performed in 2022, it is now Hyundai’s turn to talk about what it managed to accomplish last year. Deliveries to customers around the world rose by 1.3 percent compared to 2021, reaching 3,942,925 units. The last quarter was particularly strong, with 1.04 million cars shipped to customers or 8.1 percent YoY. For the sake of accuracy, we’re talking strictly about Hyundai, without Kia and Genesis.
For this year, the South Korean brand has set a more ambitious target as it wants to sell more than 4.32 million cars. Until the end of the year, Hyundai intends to spend a whopping KRW 10.5 trillion (about $8.5 billion at current exchange rates), as follows: KRW 5.6 trillion ($4.5B) in capital expenditure, KRW 4.2 trillion ($3.4B) in research and development, and KRW 700 billion ($567M) in strategic investments.
2023 Hyundai Ioniq 6
As far as new products that are scheduled to come out in 2023, Hyundai confirms the next-generation Kona EV, all-new Santa Fe, and the Ioniq 5 N will be out this year. Pictured here, the Ioniq 6 sedan will be gradually rolled out to other markets in the coming months. We also get to learn additional SUVs and posh Genesis models are on the way. A facelift for the i20 N has already been announced for a summer debut, which implies the lesser versions of the supermini will get a nip and tuck this year.
There’s no word about the Ioniq 7, which suggests we’ll only see the equivalent Kia EV9 this year. Previewed in November 2021 by the Seven Concept, the three-row electric SUV from Hyundai is expected to come out at some point in 2024.
Supply bottlenecks will remain a concern this year, according to Hyundai, along with inflation and fluctuation of interest rates.
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