Hyundai Sees Slower Volume Growth as Higher Rates Hit Demand
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Hyundai Motor Co. said its sales volume growth will slow in 2024 as higher interest rates curb global demand for automobiles.
The world’s third-largest automaker aims to sell 4.24 million units in 2024, including its Genesis luxury brand, roughly a 6.2% increase from its 2023 global sales. It sold a total of about 4.22 million cars in 2023, an increase of 6.9% from a year earlier and far short of its 9.5% original target.