The Korean automakers want to sell a combined total of 7.52 million vehicles this year.
Korean automakers Hyundai and Kia have released global sales figures for 2022 and targeted projections for the coming year.
In a media statement, Hyundai says sales outside of Korea totaled 3,255,695 units, representing an increase of 2.9% compared to last year. In its home market, sales declined by 5.2% to 688,884. The company delivered 3,944,579 vehicles in 2022, resulting in a 1.4% increase compared to 2021.
Kia, which operates under its parent company Hyundai Motor, reported a 4.6% increase in sales outside Korea. A total of 2,362,551 units were sold outside Kia's home country, while the Korean market snapped up 541,068 vehicles. Total Kia sales for 2022 are 2,903,619.
Both brands attribute this success to the popularity of models like the Hyundai Ioniq 5 and Ioniq 6, which, says Hyundai, accounted for more than 100,000 sales worldwide last year.
Neither company is resting on their respective laurels, though.
For example, Kia aims to sell a total of 3.2 million vehicles this year. 2.61 million of these units are expected to go to customers in markets outside of Korea, while the brand is hoping to sell 585,120 units in its domestic market. Hyundai's ambitions are loftier still. The automotive giant is targeting global sales of 4.32 million vehicles (including Genesis sales).
Of that figure, 3.54 million vehicles are expected to be sold worldwide, with an additional 781,000 units in Korea.
Both brands are leaning heavily on the fast-moving electric segment to bolster sales. Hyundai plans to "expand market share and operate profitability-oriented businesses by flexibly responding to market changes, accelerating its transition to electrification," and optimizing production and sales.
Kia has a similar strategy but will also focus on its Purpose Built Vehicles (PBV) to cater to the needs of business customers in the EV era.
Of course, several new models will also pique customer interest and stir sales. The all-new Kona will soon hit the global market, along with a refreshed Santa Fe and the extremely exciting Ioniq 5 N. The automaker says details about its first high-performance EV will be released in the coming months.
As for Kia, we've got the new EV9 SUV to look forward to, but we anticipate the refreshed Seltos and all-new Niro to contribute nicely to this year's sales figures. It remains to be seen whether these Korean motor manufacturers will hit their targets, but with constantly refreshed models, appealing EVs, and value for money, it shouldn't be much of a tall order.