Hyundai is now world’s third largest carmaker; only behind Toyota, Volkswagen

Hyundai Motor Company, the South Korean automaker is now the third largest automaker globally. Hyundai recently became the third best-selling car manufacturer by volume leaving behind General Motors and Stellantis, both US based automakers. With this, Hyundai is now trailing behind only two companies, Toyota of Japan and Volkswagen of Germany. Interestingly, this is also the first time, no American automaker is in the top 3 spot. For the longest of time GM has been in the top 3 spots, and sometimes Ford too entered the top 3 list.

In India also, Hyundai is the second best-selling car brand, apart from being the biggest exporter of vehicles. Hyundai reported a strong sales growth in 2021 and managed to sell over 6.6 million cars worldwide. The top automaker in the world for multiple successive years for now, Toyota sold around 10.5 million cars, while Volkswagen registered a total sales of 8.9 million cars in 2021.

North American countries like USA, Canada, and Mexico remains the top contributor for the Korean automaker with 21 per cent of the total sales in 2021 coming from these three countries. Not just for Korea, North American market is one of the biggest in the world with almost 17 per cent share in global auto sales. 

The Korean carmaker was founded back in December 1967 and beaten GM and Stellantis for the first time ever since its inception more than 55 years ago. The brand recently announced to build a new EV plant in the US and further encash the trend. With one of the largest EV plants in the United States, Hyundai aims to target Tesla as one of the credible and big EV makers in the country. 

As for the Indian market, Hyundai is currently working on launching the new small SUV called Hyundai Casper, popular Creta facelift and the Hyundai Verna next-gen model. It is also working to launch the Hyundai Ioniq 5 in the country to expand its EV portfolio for the Indian market.