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Hyundai Sees Sales Returning to Pre-Covid Levels in 2022

  • Automaker hopeful chip shortage will ease in second quarter
  • Plans to increase eco-friendly car sales by 30% this year
Robots assemble Hyundai Motor Co. Casper mini SUV on the production line at the Gwangju Global Motors (GGM) factory in Gwangju, South Korea, in October 2021. 

Robots assemble Hyundai Motor Co. Casper mini SUV on the production line at the Gwangju Global Motors (GGM) factory in Gwangju, South Korea, in October 2021. 

Photographer: SeongJoon Cho/Bloomberg
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Hyundai Motor Co. is hopeful the semiconductor shortage afflicting the global auto industry will ease next quarter and that its sales will return to pre-pandemic levels this year, according to the company’s executive vice president, Gang Hyun Seo.

Speaking in a call following Hyundai’s quarterly earnings, which missed analyst expectations, Seo said the chip crunch would likely continue until the end of the current quarter and then production could normalize after.