Chip shortage thwarted Hyundais 2021 sales target

Chip shortage thwarted Hyundai’s 2021 sales target

South Korean automaker Hyundai Motor today announced its results for the past year. The company is said to have sold 3.89 million vehicles worldwide without reaching its goals. She had previously expected 4 million cars to be delivered.

Source: Hyundai

Source: Hyundai

Nevertheless, the South Korean company wants to catch up on the over-fulfillment this year – in 2022 it wants to sell 4.32 million cars.

“In 2022, Hyundai Motor plans to expand market share and increase margins through efforts to stabilize chip supply and demand, with better vehicle production plans, stronger EV lines, and better sales and losses in all regions.”, – said the company representatives.

It is known that Hyundai originally planned to sell 4.16 million vehicles last year. Against the background of a worsening chip shortage, the company had to reduce its sales target by around 4% to 4 million cars, but was ultimately not up to the updated task.

Now the company is doing its best to keep up with new market trends. According to the latest information, it dissolved the division for the creation of internal combustion engines (internal combustion engine), all forces are thrown into the production of electric vehicles.


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Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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