After most automotive players announced how they would perform in 2022, now it’s Hyundai’s turn to talk about what it managed to achieve last year. Shipments to customers worldwide rose 1.3 percent compared to 2021, reaching 3,942,925 units. The last quarter was especially strong, with 1.04 million cars delivered to customers or 8.1% YoY. For the sake of accuracy, we’re only talking about Hyundai, minus the Kia and Genesis.
For this year, the South Korean brand has set a more ambitious target because it wants to sell more than 4.32 million cars. By the end of the year, Hyundai intends to spend KRW 10.5 trillion (about $8.5 billion at current exchange rates), as follows: KRW 5.6 trillion ($4.5 billion) on capital expenditures, KRW 4.2 trillion ($3.5 billion) 4 billion) for research and development, and KRW 700 billion ($567M) in strategic investments.
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As far as new products slated for coming out in 2023, Hyundai confirmed the next-generation Kona EV, new Santa Fe, and Ioniq 5 N will be out this year. Pictured here, the Ioniq 6 sedan will be rolled out gradually to other markets in the coming months. We also get to learn about additional SUVs and a luxury Genesis model on the way. A facelift for the i20 N has been announced for a summer debut, implying that the lesser version of the supermini will get big changes this year.
There’s no word yet on the Ioniq 7, which means we’ll only be seeing the Kia EV9 equivalent this year. Previewed in November 2021 by Seven Concept, the three-row electric SUV from Hyundai is expected to be out in 2024.
Supply bottlenecks will remain a concern this year, according to Hyundai, along with inflation and interest rate fluctuations.
