Photo: Hyundai
Just like everybody else in the automotive market, Hyundai has been having a hard time dealing with the disruptions caused by the chip shortage.
But in the last few months, the South Korean company has managed to do this more efficiently, with July bringing the best news in a very long time.
More specifically, Hyundai sold close to 326,000 cars last month, up from 313,000 vehicles in the same month of 2021. The strong demand for SUVs helped Hyundai defy the chip shortage, though the company confirmed the lack of semiconductors continued to be a big concern during the month.
However, the 4 percent sales increase gives hope that the end of the chip shortage could be near. At the same time, there’s no guarantee that the market wouldn’t end up struggling with the constrained inventory again in the short term.
Furthermore, Hyundai doesn’t see the chip crisis and, as a result, the current production challenges are easing off in all markets worldwide. As a result, the company says its domestic sales declined by 5.9 percent. In contrast, the shipments in the international market increased by 6.3 percent.
When it comes to 2022 as a whole, Hyundai says its numbers recorded a drop of 6 percent when compared to the January-July period a year ago. The company sold 2.2 million cars in the first seven months of the year.
Whether or not the chip shortage would eventually come to an end in the second half of the year or at least show some more substantial signs of recovery is something that remains to be seen. But at first glance, the very challenging market conditions are making a return to pre-2020 levels much more difficult, especially as the constrained chip inventory isn’t the only concern of the supply chain. The war in Ukraine, as well as the lockdowns happening in China, impacted the supply chain in a significant manner, and anticipating the evolution in the short term is difficult, to say the least.
More specifically, Hyundai sold close to 326,000 cars last month, up from 313,000 vehicles in the same month of 2021. The strong demand for SUVs helped Hyundai defy the chip shortage, though the company confirmed the lack of semiconductors continued to be a big concern during the month.
However, the 4 percent sales increase gives hope that the end of the chip shortage could be near. At the same time, there’s no guarantee that the market wouldn’t end up struggling with the constrained inventory again in the short term.
Furthermore, Hyundai doesn’t see the chip crisis and, as a result, the current production challenges are easing off in all markets worldwide. As a result, the company says its domestic sales declined by 5.9 percent. In contrast, the shipments in the international market increased by 6.3 percent.
When it comes to 2022 as a whole, Hyundai says its numbers recorded a drop of 6 percent when compared to the January-July period a year ago. The company sold 2.2 million cars in the first seven months of the year.
Whether or not the chip shortage would eventually come to an end in the second half of the year or at least show some more substantial signs of recovery is something that remains to be seen. But at first glance, the very challenging market conditions are making a return to pre-2020 levels much more difficult, especially as the constrained chip inventory isn’t the only concern of the supply chain. The war in Ukraine, as well as the lockdowns happening in China, impacted the supply chain in a significant manner, and anticipating the evolution in the short term is difficult, to say the least.
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