Hyundai Motor continues to be the second largest carmaker in the country, but this position could be snatched away at any time. The carmaker’s sales have been declining for the past few months. In March, the Korean carmaker sold 55,287 units. This is a decline of 14 percent in sales compared to March last year. Like other companies, Hyundai is also facing the shortage of semiconductor chips.
Hyundai sold 64,621 units in March last year. However, on a month-to-month basis, the company is also making a slight recovery. In February this year, Hyundai sold 44,050 units as compared to 55,287 units in March, registering a growth of 25 per cent.
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exports increased by 25%
Overall, FY 2021-22 has not been a disappointing one for Hyundai. The company has sold a total of 6,10,760 units. This is a marginal growth of around six per cent as compared to 5,75,877 units sold during the 2020-21 financial year. During this period, the company has increased exports by about 25 percent with 1,29,260 units.
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Waiting period of vehicles increasing continuously
The chip crisis is adding to the difficulties for Hyundai as the waiting period of its popular cars is also increasing. The Creta and Venue SUVs, which form a major part of its overall sales, have a waiting period of several months. Despite the strong demand for its SUVs and hatchbacks, Hyundai is unable to capitalize on it in sales. Hyundai may bring facelift versions of both the Creta and Venue this year.