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| ▲ This undated file photo provided by Hyundai Motor Co. shows the Palisade SUV. (PHOTO NOT FOR SALE) (Yonhap) |
(LEAD) Hyundai Motor-April sales
(LEAD) Hyundai's April sales rise 8.5 pct on improved production
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SEOUL, May 2 (Yonhap) -- Hyundai Motor Co., South Korea's biggest carmaker, said Tuesday its sales rose 8.5 percent last month from a year earlier on improved production and product mix amid eased chip supply disruptions.
Hyundai Motor sold 336,212 vehicles in April, up from 309,876 units a year earlier, on strong demand for its high-end and SUV models, the company said in a statement.
Domestic sales climbed 12 percent to 66,660 units from 59,415 during the cited period, while overseas sales were up 7.6 percent to 269,552 from 250,461, the statement said.
From January to April, its sales rose 12 percent to 1,357,924 autos from 1,212,567 during the same period last year.
The Inflation Reduction Act, signed into law by U.S. President Joe Biden in August, gives up to US$7,500 in tax credits to buyers of electric vehicles (EVs) assembled only in North America, sparking concerns that Hyundai Motor and Kia could lose ground in the U.S. market, as they make most EVs at domestic plants for export to the United States.
In October, Hyundai Motor Group began the construction of a 300,000-unit-a-year EV and battery plant in Georgia, aiming to begin commercial production in the first half of 2025.
Early this year, Hyundai Motor began to produce the all-electric GV70 SUVs under its independent Genesis brand at the Alabama plant.
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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