Hyundai is ranked third in worldwide automobile sales in the 1st quarter of 2022

Seoul 15 August : South Koreas Hyundai Motor Group said on Monday that it placed third in the first half of global vehicle sales due to increased sales of luxury models despite the absence of auto chipsHyundai Motor, its independent Genesis brand, and Hyundais affiliate Kia Corp.

sold a total of 3.299 million vehicles in the worlds markets in the period between January and June in comparison to Toyota Motor Groups 5.138 million units and Volkswagen Groups 4.006 million units as per their sales figures.In the initial six months of the year, an increase in the sales of Genesis models, including the all-electric Hyundai IONIQ 5 as well as the electric pure Kia EV6 pushed up the Korean carmakers sales rankings according to Yonhap news agency.The groups ranking increased from sixth with numbers of 3.475 million automobiles in the first quarter of 2021.The Korean automakers sales in the first half dropped 5.1 percent from the same period last year and was better than its global rivals.Toyota Groups sales dropped by 6 percent, while Volkswagen Groups sales dropped 14 percent, Stellantis shed 16 percent and General Motors plunged 19 per cent.

Stellantis is a 50:50 joint venture which was set in the wake of the merger of U.S.car maker Fiat Chrysler Automobiles N.V.and French automaker PSA Groupe.Hyundai Motor said last week it would invest $424 million to construct an artificial intelligence (AI) research center in the US to increase its competitiveness in robotics, a subject it believes is a major growth driver for the future.na.