Hyundai's sales fall 4.5% globally amid chip shortage
Hyundai Motor sold a total of 340,534 vehicles in June, down from 356,631 units a year earlier, the company said in a statement. Domestic sales fell 13 percent to 59,510 units from 68,407 during the period, while overseas sales declined 2.5 percent to 281,024 from 288,224, reports Yonhap news agency. From January to June, sales dropped 7.6 per cent to 1,877,193 autos from 2,031,185 units during the same period of last year.
Hyundai to create new US affiliate after $10.5 bn investment pledge
The new affiliate, tentatively named HMG Global, will be established in Delaware state in the US and funded by Hyundai's three flagship arms -- Hyundai Motor, Kia and Hyundai Mobis, according to regulatory filings posted by the companies.Hyundai Motor and its smaller affiliate Kia will together inject a combined $578 million in the new American unit, reports Yonhap news agency.
Speedbreaker: Semiconductor issues still hurting but supply constraints easing says Hyundai
Besides, the automobile major expects healthy demand to sustain during the initial phase of next year. In conversation with IANS, Hyundai Motor India's Director Sales and Marketing Tarun Garg said though it is hard to give a timeline for normal supply of semiconductors, however, the shortages have eased. "Semiconductor and input cost issues are global in nature but things are getting better. "
Hyundai to up EV ratio to 80% by 2040
All-electric and hydrogen fuel-cell electric vehicles currently account for a mere 1.5 per cent of Hyundai's global sales and it initially aims to raise the ratio to 30 per cent by 2030, reports Yonhap News Agency. To achieve the aim, Hyundai said it will gradually replace its product lineup sold in Europe with hydrogen or battery-powered models by 2035 and in other major markets by 2040.
HMIL invested over $4 bn in last 25 years
Notably, the company is observing 2021 as its 25th year of commencing operations in India. "Hyundai Motor India has invested over $4 billion in India and has 17 regional offices and 2,449 customer touchpoints across India." On Tuesday, the automaker inaugurated its new state-of-the-art corporate Headquarters in Gurugram.
Hyundai's June YoY total sales up over 100%
The company's cumulative sales rose to 54,474 units last month from 26,820 units sold during June 2020, the company said. On a sequential basis, the company had cumulatively sold 30,703 units in May 2021. Geography-wise, the domestic sales rose to 40,496 units from 21,320 units reported for the corresponding period of last year.
Hyundai Motor India April cumulative sales at over 59K units
Automobile manufacturer Hyundai Motor India's cumulative sales during April stood at 59,203 units. Accordingly, the company sold 49,002 units in the domestic market during the month under review. It shipped out 10,201 units to foreign countries last month.
Hyundai Motor offers assistance of Rs 20 cr to fight Covid-19
Under its third phase of initiatives for Covid-19, HMIF will rollout a multi-faceted relief package of Rs 20 crore that is deeply focused on the crisis at hand, a statement by the company said. To impact meaningful respite across the most impacted states and cities, Hyundai will deploy its resources for setting up oxygen generating plants in hospitals, to aid critical patients and help hospitals become self-sufficient in oxygen supply.