Hyundai Motor secures third place as the largest carmaker in the world

Hyundai Motor is now in the top three in the list of largest carmakers in the world. It has secured third place in the ranking in terms of sales, and this is said to be an impressive achievement since the brand made it to the global top 10 list more than two decades ago.

As per The Korea Herald, based on Hyundai Motor’s regulatory filing this week, it has sold about 6.8 million vehicles in 2022. This number is the third highest among the global car brands, with Toyota Motor coming in first in the ranking with 14.8 million units sold and Volkswagen placing second with 8.5 million vehicle units.

By ranking third, Hyundai Motor beat Renault-Nissan Alliance which only sold 6.2 million vehicles. General Motors is in the fifth spot for selling 5.9 million cars, and Stellantis follows closely with 5.8 million units.

The South Korean automaker has ranked fifth since 2010, and it made it to the fourth spot in 2020 but slipped back to no. 5 again in 2021. With its apparent sales growth in the following years, Hyundai Motor finally made it to the top 3 this year.

Moreover, the company was the only automaker to have posted a 2.7% sales growth, while other top car brands in the top 5 list struggled with the slowdown of sales in 2022. The main reason for the sluggish sales was the global disruptions in the supply chain.

Korea Joongang Daily reported that Renault-Nissan-Mitsubishi Alliance sales went down by 14.1% on the year while Stellantis sales result showed an 11.2% drop. Finally, this is the first time that the combined sales of Hyundai Motor and Kia Motor have placed the company in the top 3 of the global market in the 47 years since it introduced its very first car model, Pony.

Photo by: Franz W./Pixabay