Hyundai Motor's sales slump deepens beyond strike fallout
Hyundai Motor’s push to reverse its sales decline comes under a tougher test in the fourth quarter, as its long-time rivals and emerging players show greater resilience. The carmaker sold 49,022 vehicles in Korea last month, down 25.7 percent from a year earlier. The company attributed the decline largely to fewer operating days caused by the Chuseok holiday and pent-up demand ahead of its new…
Hyundai Motor's sales decline deepens, with the carmaker reporting a 25.7 percent drop in vehicle sales in South Korea compared to the previous year. This downward trend is attributed to fewer operating days due to the Chuseok holiday and the lingering effects of production disruptions from a recent labor dispute. Hyundai's local sales decline is particularly pronounced, while rival Kia experienced a milder 6.7 percent sales fall during the same period.
The company's global sales also saw a 16 percent decrease, both domestically and internationally. Meanwhile, Kia reported a 5.1 percent increase in global sales, with overseas sales rising by 7.5 percent. Hyundai Motor has posted a record third-quarter sales figure of over 846,000 vehicles worldwide, indicating the resilience of the company's global operations amidst the domestic sales slump.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Hyundai Motor's sales slump deepens beyond strike fallout koreatimes.co.kr
