Saturday, December 10, 2022

Hyundai got hit again! Large loss due to long waiting period, read details

Hyundai Motor is still the second largest car manufacturer in the country, but this position can be snatched away at any time. The carmaker’s sales have been declining over the past few months. In March, the Korean carmaker sold 55,287 units. This is a 14 percent decrease in sales compared to March last year. Like other companies, Hyundai also faces 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. Hyundai sold 44,050 units in February this year compared to 55,287 units in March, which recorded a 25 percent growth.

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exports increased by 25%
Overall, the 2021-2022 financial year was not disappointing for Hyundai. The company sold a total of 6 10 760 units. This is a marginal growth of about six percent compared to 5,75,877 units sold during the 2020-21 financial year. During this period, the company increased exports by about 25 percent by 1,29,260 units.

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Waiting period of vehicles is constantly increasing
The chip crisis is contributing to the problems for Hyundai, as the waiting period of its popular cars is also increasing. The Creta and Venue SUVs, which make up a large portion of its overall sales, have a waiting period of several months. Despite the strong demand for its sports utility vehicles and hatchbacks, Hyundai can not profit from it. Hyundai may bring face-to-face versions of both Creta and Venue this year.

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