Hyundai to become world’s third largest automaker by 2022

OUR Hyundai Motor Group reached a historic milestone in 2022. South Korean automaker leaves alliance Renault–Nissan–Mitsubishi, reaching the third position of world manufacturers. This is the first time in history that the top three manufacturers do not include Americans, Europeans or Japanese.

A preliminary estimate was made by Bloomberg Intelligence and indicates that the Japanese Toyota leads and the group appears in sequence Volkswagen. As of the first half of this year, Hyundai has sold about 3.3 million vehicles worldwide. Toyota sold over 5.1 million units while Volkswagen closed with 4 million vehicles. General Motors is in fourth place right behind Hyundai.

Hyundai Group’s strong performance in 2022 is driven by the success of its electric vehicles, especially in the North American market, according to Bloomberg Intelligence. 26% of vehicles sold by the automaker went to the United States in 2022. In addition to Hyundai itself, the group works with two other brands, kia and Being.

Hyundai in Brazil

Hyundai enters the Brazilian market. According to data from National Automobile Distribution Federation (fearless) note that the South Korean manufacturer is in fourth place in the market after Chevrolet, Fiat and Volkswagen. This is an excellent result for a transnational corporation that actually started production in the country exactly 10 years ago.

Globally, Hyundai is also a relatively young multinational, only 55 years old. Founded in 1967, the multinational company launched its first car in 1975. In 1998, it acquired then-rival Kia after the severe economic crisis in Asian countries. Since the beginning of the century, the group has gradually increased its share of the global market.

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Source: Bloomberg.

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