Hyundai Motor celebrates record-setting production of 100 million cars

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Hyundai Motor celebrates record-setting production of 100 million cars

Published: 30 Sep. 2024, 16:45 Updated: 30 Sep. 2024, 18:13

SARAH CHEA
chea.sarah@joongang.co.kr

Hyundai Motor employees take a photo celebrating the delivery of an Ioniq 5, its 100 million and first vehicle, to customer Kim Seung-hyun, second from right in the front row, at its manufacturing facility in Ulsan on Monday. [HYUNDAI MOTOR]

Hyundai Motor's cumulative production volume surpassed 100 million units on Monday, only 57 years after its founding, with the company hitting the milestone quicker than any other automaker.

The Korean company on Monday held a ceremony marking the event at its plant in Ulsan, delivering its 100 million and first vehicle — a pure-electric Ioniq 5 — to Kim Seung-hyun, a customer in his 20s who chose the EV as his very first car.

The record came 57 years after the late founder Chung Ju-yung formed Hyundai in 1967, with the milestone being achieved in record time.

Toyota took 60 years for its cumulative volume to reach 100 million, while Volkswagen took 68 years and Ford 74 years.

The achievement was largely attributed to robust sales overseas, with the Elantra, known as the Avante in Korea, becoming the best-selling car for the company — with 15.4 million cars sold between 1967 and August this year. Of the vehicles sold, overseas sales accounted for 12 million units, more than three times local sales.

The Xcent sedan was the second most popular car, with a total of 10.3 million sales overall, of which 9.4 million came from foreign markets.

The Sonata ranked third, followed by the Tucson SUVs and Santa Fe SUVs.

Hyundai's cumulative production volume reached 10 million in 1996 and 50 million in 2013, backed by its various manufacturing plants overseas.
Hyundai built its very first overseas plant in Turkey in 1997. It currently operates a total of 11 plants in eight countries, with a total production capacity sitting at 5 million units.

It is currently building EV facilities in the United States and India, as well as in Ulsan.

“Reaching global cumulative production of 100 million vehicles is a meaningful milestone that was possible thanks to our customers around the world, who have chosen and supported Hyundai Motor since the very beginning,” said CEO Chang Jae-hoon.

“Taking on bold challenges and being in constant pursuit of innovation has enabled us to achieve rapid growth and will empower us to take ‘one step further’ toward another 100 million units as a mobility game changer.”

BY SARAH CHEA [chea.sarah@joongang.co.kr]