Home > Industries > Hyundai Earns 5th Spot In Global Sales Ranking, But Experiences Decreasing Sales

Hyundai Earns 5th Spot In Global Sales Ranking, But Experiences Decreasing Sales

By February 15, 2017 at 5:54 am
hyundai (Photo : Getty Images/Justin Sullivan)

In terms of global rankings, Hyundai seems to be in a good position as the company managed to scure the 5th spot. But that alone does not paint a good picture for the automaker company.

This is because, despite the high global ranking, the gap between Hyundai and its competitors widened due to Hyundai's low sales. Hyundai Motor Group controls two companies, Hyundai Motor and Kia Motors and according to industry sources, the two automaker companies sold 7.88 million units last year which is enough for fifth place in the global market. However, Hyundai's sales dropped 1.7 percent from a year earlier while the company wasn't able to reach its goal of 8.13 million units sold.

Meanwhile, other leading car companies had increasing sales last year which allowed them to extend their lead over Hyundai. The top company in the market, Volkswagen, sold 10,314,400 cars last year which is an increase of 3.8 percent from a year ago. The company was able to grab the top spot despite the Diesel Gate Scandal to which the company is accused of cheating emission tests. Volkswagen's increase in sales can be attributed to China's contribution of 3.98 million units.

Toyota dropped down to second place after holding the top spot for four years in a row. This is due to poor sales in the US with 10.18 million units. The good news for Toyota is that this is an increase of 0.2 percent from the previous year.GM came in third place with sales of 9.97 million units while Renault-Nissan in 4th with 9.96 million units.

Hyundai is also experiencing slow sales at the domestic market which is worth 1.3 million cars last year. Hyundai sales dropped to 7.8 percent while Kia decreased by 1.4 percent. Strikes played a part in the low sales as it caused fewer days of operation for Kia.  Despite the low sales, the company is targeting 8.25 million units for 2017 with more production plants in operation. 

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