Hyundai Motor August Sales Fall 14% on Strikes and Fewer Working Days
Domestic sales plunged 41 percent, while overseas sales declined 8.5 percent in August.
Quick Look
- Hyundai Motor Co. reported a 14 percent drop in August sales to 288,574 vehicles, impacted by partial strikes and fewer working days.
- Domestic sales plunged 41 percent, while overseas sales declined 8.5 percent.
AI-generated summary
Why It Matters
Hyundai Motor Co. is South Korea's biggest carmaker.
SEOUL, Sept. 1 (Yonhap) Hyundai Motor Co., South Korea's biggest carmaker, said Tuesday its sales fell 14 percent in August from a year earlier, hurt by partial strikes and fewer working days.
Hyundai sold 288,574 vehicles last month, down from 336,141 units a year earlier, the company said in a press release.
Domestic sales plunged 41 percent to 34,333 units from 58,330, while overseas sales declined 8.5 percent to 254,241 from 277,811.
To boost sales, the company said it plans to promote new models, including the New Grandeur sedan and the all-new Avante compact. The new models are expected to increase the carmaker's market share for the rest of the year.
From January to August, cumulative sales fell 6 percent to 2,575,360 autos from 2,738,615 in the same period last year.
Domestic sales dropped 15 percent to 399,159 units from 469,457, while overseas sales declined 4.1 percent to 2,176,201 from 2,269,158.
What to Watch
AI outlook โ possibilities, not facts
Company plans to promote new models to increase market share.
Likely ยท Within months
Open Questions
- How long will the partial strikes continue?
- Will new model promotions offset domestic sales losses?
