TheKoreaTimes: Hyundai, Kia see backorders exceed 1 million vehicles

The Korea Times reports, “Hyundai Motor and Kia have been unable to deliver vehicles to all their customers on time, as the global shortage of automotive semiconductors continues, with their combined backorders exceeding 1 million as of March, according to industry officials on Wednesday.”

“Kia’s domestic backorder volume increased from 100,000 vehicles at the beginning of last year to 500,000 last month.”

“The backorders account for 15 percent of Hyundai Motor and Kia’s total sales of 6.66 million cars last year.”

“Many analysts believe the global semiconductor supply shortage will continue throughout the rest of the year.”

“In the case of Kia Sorento Hybrid and Sportage Hybrid, it takes over 18 months for a customer to receive a vehicle, while the Carnival takes eight to 11 months, the Niro Hybrid 11 months, the K8 six to 13 months, the K5 five to 11 months and Bongo four to 10 months.” “Hyundai customers will also have to wait more than 12 months to receive their GV60, GV70, IONIQ 5 and Porter EV vehicles.”

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