Hyundai Motor's Global Sales Dip 3.7% in March 2024, EV Sales Show Strong Momentum

2024/04/01
Production & Sales, Market Data
Hyundai
Malaysia
Korea
In March 2024, Hyundai Motor Company reported a 3.7% year-over-year decrease in global sales, totaling 369,132 units. Solid sales momentum was observed in North America, Europe, and India, although sales outside of South Korea experienced a slight dip of 0.7%, reaching 306,628 units for the month. Domestic sales in South Korea amounted to 62,504 units in February, marking a 16.1% decrease compared to the same period last year. Hyundai's SUV models collectively sold 21,979 units in the domestic market, while the Genesis luxury brand maintained strong sales with 11,839 units sold. Over 19,000 units of Hyundai's EV models were sold worldwide in March, demonstrating the company's solidifying role as a leader in electrification. In response to business uncertainties, Hyundai plans to fortify its production and sales systems to better meet demand and adapt to shifts in regional markets. The company also aims to enhance its electrification leadership by launching competitive new models and expanding its EV lineup. In late March, Hyundai's EV leadership was recognized when the IONIQ 5 N high-performance EV won the 2024 World Performance Car at the World Car Awards in New York, building on the momentum from the IONIQ 5 and IONIQ 6, which achieved consecutive triple victories in 2022 and 2023 in various World Car categories.
Click original text link for more information
HYUNDAI
Hot News
Mercedes-Benz Partners with Geely on New EV Platform, China R&D Center Leads Global Compact Vehicle Development for First Time
According to 36Kr, Mercedes-Benz is developing a new EV platform codenamed 'Phoenix' using Geely's GEEA 4.0 E/E architecture, scheduled for production around 2030 to replace the current MMA platform for next-generation entry-level models including the A-Class, B-Class, GLA, GLB, and CLA. This marks the first time in the luxury brand's history that new platform development occurs outside Germany, with its China R&D centre serving as the global headquarters for compact vehicle development while the German base focuses on mid-size and large vehicles. The GEEA 4.0 architecture supports both EV and non-EV applications, succeeding the GEEA 3.0 debuted in the Geely Galaxy E5 (Proton eMas 7 twin). The move reflects Mercedes-Benz's cost-reduction strategy through deepened Geely partnership, following similar collaborations announced by Volkswagen and Stellantis with Chinese brands.
Honda to End GM Fuel-Cell JV by Late 2026, Mass-Produce Next-Gen System in 2027
Honda will cease fuel-cell production at its Brownstown, Michigan JV plant with GM by end-2026 and dissolve the 2017-formed FCSM partnership. Leveraging joint achievements such as the 2024 plug-in CR-V e:FCEV, Honda will commercialise its next-generation self-developed fuel-cell system in 2027, positioning hydrogen as a new core business after 30-plus years of R&D.
New Luxeed R7/S7 to Debut on March 23 with New Orange Paint and HUAWEI ADS 4
Luxeed has announced that the updated R7 and S7 models will launch on March 23, featuring a new "Vitality Orange" exterior color. Both vehicles come equipped with HUAWEI ADS 4 intelligent driving system, offering end-to-end navigation assist and valet parking capabilities, along with the debut of intelligent sensing parking technology. The R7 offers both EREV and BEV powertrain options, with the EREV variant utilizing Huawei's Snowy Owl range-extender system and delivering up to 360km CLTC electric range.
4
Leapmotor D19 Tri-Motor Version Exposed in MIIT Filing: BEV & EREV Dual Powertrains, Priced at 250,000-300,000 RMB
The Leapmotor D19 tri-motor variants have appeared in MIIT filings, including both BEV and EREV versions. Exterior design remains consistent with the dual-motor model, with the BEV variant featuring a front trunk due to the absence of a range extender—its hood opening extends to the fascia creating a deep storage well—while the EREV retains a conventional front compartment with closed grille. The model is currently available for blind ordering with a 999 RMB deposit, targeting a 250,000-300,000 RMB price range for April 2026 market launch.
5
All-New BYD Yuan PLUS Exposed in MIIT Filing: Larger Dimensions, Rear-Wheel-Drive Platform & Second-Gen Blade Battery
The all-new BYD Yuan PLUS has appeared in MIIT filings with comprehensive upgrades. Vehicle dimensions expand significantly to 4665/1895/1675mm with a 2770mm wheelbase, featuring a silver grille panel and slim black-housed headlamps for a more commanding presence. The model transitions to a dedicated rear-wheel-drive BEV platform equipped with second-generation Blade Battery technology, offering 18/19-inch wheel options and semi-flush door handles. Pre-sales are expected to commence mid-year with substantially enhanced product competitiveness.
6
Updated Denza N9 Exposed in MIIT Filing: Second-Gen Blade Battery & Flash Charging Tech, 420km CLTC Range
The updated Denza N9 full-size SUV has surfaced in MIIT filings with key technological advancements. Retaining its 5258/2030/1830mm dimensions and 3125mm wheelbase, the model preserves the closed-front fascia and dual-layer LED DRL design while adding 22-inch chrome turbine wheels for enhanced luxury appeal. The powertrain upgrade features second-generation Blade Battery technology with flash charging capability, achieving a 420-kilometer CLTC electric range. Millimeter-wave radar integration further strengthens its intelligent driving architecture.
Copyright © RUNTO TECH LIMITED. All rights reserved.