Hyundai becomes 3rd largest carmaker, set to overtake Toyota, Volkswagen

The world’s third-largest carmaker isn’t from the US, Japan or Europe, at least not anymore. It’s South Korea’s Hyundai Motor Co.
 

While Toyota Motor Corp. and Volkswagen AG vie each year for pole position atop the global automobile industry, Hyundai has quietly slipped in behind them, surpassing General Motors Co., Nissan Motor Co. and Stellantis NV in annual volumes along the way.

Founded 55 years ago as a manufacturer of affordable vehicles for its home market, Hyundai’s international expansion only began in earnest in the 80s. After working for decades to shake its image as an upstart, Hyundai’s Genesis is