Hyundai Motor Company is experiencing delays in customer deliveries for some models due to a significant increase in inventory. Vehicles waiting at the shipping centers before being delivered to customers have overwhelmed the inventory, causing even popular models to face shortages of space, leading to delivery disruptions.
According to Hyundai Motor Company on the 12th, it has been reported that the delivery of certain models, including Staria, Porter2, and Genesis, is delayed by about 1 to 2 weeks longer than initially expected. These models were anticipated to have shortened delivery times due to a decrease in the number of buyers compared to last year, but delays in delivery are occurring due to a lack of parking space at the shipping centers.
Hyundai Motor Company operates a total of 12 shipping centers within the country, including three in the capital region (Shingal, Siheung, Anyang), one in Chungcheongnam-do (Asan), one in Chungcheongbuk-do (Okcheon), one in Jeollanam-do (Damyang), one in Jeollabuk-do (Jeonju), one in Gyeongsangbuk-do (Chilgok), three in Gyeongsangnam-do (Ulsan, Yangsan, Ham-an), and one in Gangwon-do (Wonju). Vehicles sold in the country are produced at the Ulsan and Asan plants and then transported to the logistics centers in each region before being delivered to dealerships or customers.
Recently, Hyundai Motor Company's shipping centers nationwide are reaching a saturation point due to a rapid increase in inventory. Since production plants have predetermined schedules, vehicles continue to be manufactured regardless of sales. The models with increasing inventory are primarily electric vehicles. Sales of Hyundai's main electric vehicle models have decreased due to a slowdown in demand. Additionally, last month, the absence of confirmed government and local government electric vehicle subsidies combined with reduced business days due to the Lunar New Year holiday further increased inventory. Last month, domestic sales of the Ioniq 5 totaled only 75 units.
Some sports utility vehicles (SUVs) have also recently seen increases in inventory. In the case of the large SUV Palisade, the new completely redesigned model is set to be released this year, leaving the older model in stock. Other SUV models, such as Santa Fe and Tucson, have also seen increased inventory, except for hybrid types.
Hyundai Motor Company is making efforts to reduce inventory recently. First, the operation of the production line at the Ulsan Plant 1, which produces the Ioniq 5 and Kona EV, is planned to be suspended from the 24th to the 28th. Furthermore, discounts of 3 million won on the Ioniq 5 and Ioniq 6 and 4 million won on the Kona EV will be offered.