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Hyundai Motor close to selling 100M vehicles

ANN/THE KOREA HERALD – Hyundai Motor Group is expected to exceed 100 million vehicle sales this year, marking 56 years since it began selling cars in Korea in 1968.

As of last year, the company had sold nearly 97 million vehicles globally. Around 24 million were sold in South Korea, comprising 25 per cent of total sales, while the remaining 73 million, or 75 per cent, were sold internationally.

To achieve the 100 million milestone, Hyundai requires the sale of about three million additional units.

Given its annual sales target of slightly over 4.2 million units, surpassing the 100 million mark within the year appears likely.

Hyundai’s sales goal, which aims for an average monthly sales rate of 353,000, suggests the company could reach this target by September, especially considering the 316,000 units already sold globally in January.

Hyundai’s journey to this point began with its entry into the automotive market in 1968, followed by its expansion into international markets in 1976.

The company’s growth has been marked by several milestones, reaching one million in sales by 1986, which rose to 10 million by 1996, 50 million by 2013, and soaring past 90 million by 2022.

Among Hyundai’s product lineup, the Avante, known as the Elantra in international markets, stands out as the company’s best-selling model, with cumulative sales exceeding 15 million units.

This model leads Hyundai’s portfolio, followed by other popular models like the Accent, the Sonata, the Tucson and the Santa Fe. Hyundai’s global automotive industry ranking has improved significantly over the years.

The company was ranked 10th in 2000 and broke into the top five by surpassing Ford in 2010.