Hyundai Motor-March sales

Hyundai Motor-March sales

Hyundai's March sales jump 21 pct despite chip shortage

SEOUL, April 3 (Yonhap) -- Hyundai Motor Co., South Korea's biggest carmaker, said Monday its sales jumped 21 percent last month from a year earlier on robust sales of its models despite an extended chip shortage.

Hyundai sold 381,885 vehicles in March, up from 314,704 units a year earlier, on strong demand for its high-end and SUV models, the company said in a statement.

Domestic sales soared 41 percent to 74,529 units from 52,883 during the period, while overseas sales were up 17 percent to 307,356 from 261,821, the statement said.

From January to March, its sales rose 13 percent to 1,020,316 autos from 902,691 during the same period last year.

The U.S. Inflation Reduction Act, which excludes electric vehicles (EVs) built outside North America from tax credits, remains a major worry for Hyundai Motor Co. and its smaller affiliate Kia Corp., as they produce EVs at domestic plants for export to the United States.

The maker of Sonata sedans and Palisade SUVs set a sales goal of 4.32 million units, including overseas sales of 3.54 million units, in global markets for 2023.

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