In the wake of a successful performance in 2023, Hyundai and Kia have set ambitious goals for 2024, aiming to collectively sell nearly 8 million cars. Hyundai experienced a favorable year, witnessing a 6.9 percent increase in deliveries, reaching a total of 4,216,680 vehicles. Notably, domestic sales surged by 10.6 percent to 688,884 units, and exports saw a 6.2 percent uptick, totaling 3,254,038 units compared to the previous year.
For the upcoming year, Hyundai’s plan is to move 4,243,000 cars, with an emphasis on selling 704,000 vehicles within South Korea and 3,539,000 units in other markets. This target also includes the anticipated sales of luxury models carrying the Genesis badge.
Meanwhile, Kia celebrated a remarkable 2023, achieving a global sales record by delivering 3,085,771 cars worldwide, reflecting a 6.3 percent increase. In Korea, demand rose by 4.6 percent to 538,822 cars, and in overseas markets, it saw a 6.7 percent uptick, totaling 2,516,383 units. Kia also reported separate sales for “special purpose vehicles,” such as the Niro Plus designed for taxi and ride-hailing services, with a notable increase of 45.7 percent compared to 2022.
Looking ahead to 2024, Kia has set its sights on shipping 3.2 million vehicles globally, with targets of 530,000 in Korea, 2.63 million in export markets, and 7,000 special purpose vehicles.
Both Hyundai and Kia have remained tight-lipped about their future product lineup, but there have been some updates on existing models. The Hyundai Tucson received a mid-cycle facelift, expected to go global soon, while the Casper EV and a facelift for the Bayon are in the works. Additionally, the compact i30 is slated for an update, and the production-ready Ioniq 7 is anticipated.
Kia, not to be outdone, has been active in refreshing models such as the K5, Sorento, and Carnival, along with introducing electric vehicles like the EV3, EV4, and EV5. Market-dependent releases include the new K3 compact sedan, an updated Picanto, and the potential introduction of a Kia Forte-replacing sedan, possibly named K4.
