How Did Hyundai Motor's June Sales Increase by 1.5%?
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Synopsis
Hyundai Motor has reported a notable 1.5 percent increase in June sales, reflecting a robust demand surge. With 358,891 vehicles sold, the company is poised for further growth. What does this mean for the automotive industry?
Key Takeaways
- Hyundai's June sales increased by 1.5%
- Domestic sales rose by 3.8%
- Kia's sales edged up by 0.2%
- Sportage was Kia's best-selling model
- Total sales for Hyundai from January to June increased by 0.1%
Seoul, July 1 (NationPress) Hyundai Motor, the largest automaker in South Korea, announced on Tuesday that its sales rose by 1.5 percent in June compared to the same month last year, driven by heightened demand both domestically and internationally.
In June, Hyundai sold 358,891 vehicles, an increase from 353,566 units a year prior, as stated in the company's press release.
Domestic sales surged by 3.8 percent, rising from 59,804 to 62,064 units, while overseas sales nudged up 1 percent, climbing to 358,891 from 353,566, according to Yonhap news agency.
"The growth in sales, both locally and globally, can be attributed to the broader availability of our various models," a company representative noted, highlighting, "We aim to sustain this sales momentum by introducing competitive new vehicles in the coming months."
From January to June, total sales saw a slight increase of 0.1 percent, reaching 2,066,425 vehicles, up from 2,063,844 during the same timeframe last year.
Domestic sales grew 2.7 percent to 354,900 units from 354,704, whereas overseas sales dropped by 0.4 percent to 1,711,525 from 1,718,140.
In related news, Kia reported a 0.2 percent increase in sales for June compared to the previous year, with first-half sales achieving an all-time high due to consistent overseas demand for sport utility vehicles (SUVs).
Kia, a subsidiary of Hyundai Motor Co., recorded sales of 269,652 vehicles in June, a modest increase from 269,201 units a year ago, as reported by the company.
Domestic sales in June climbed by 4.5 percent year-on-year to 46,003 units, while overseas sales dipped 0.8 percent to 222,997.
In the first half of the year, Kia's cumulative sales surged 2 percent to 1,587,161 units, up from 1,555,697 in the same period last year, marking the company's highest six-month performance to date. This surpasses the previous record of 1,576,016 units established in the first half of 2023.
The Sportage compact SUV emerged as the best-selling model in this six-month span, with 283,512 units sold globally, followed by the Seltos at 151,049 units and Sorento at 137,461 units.
Point of View
Hyundai Motor's sales growth highlights the resilience of the automotive industry in South Korea amid fluctuating market conditions. The company's commitment to innovation and customer satisfaction, along with its expanding range of models, positions it well for sustained growth. Kia's performance further reinforces this positive trend, showcasing the strength of the domestic automotive sector.
NationPress
01/07/2025
Frequently Asked Questions
What factors contributed to Hyundai's sales increase?
The increase in Hyundai's sales can be attributed to heightened demand for its diverse range of models both domestically and internationally.
How many vehicles did Hyundai sell in June?
Hyundai sold a total of 358,891 vehicles in June.
What was the percentage increase in domestic sales?
Domestic sales rose by 3.8 percent in June.
How did Kia perform in June?
Kia reported a 0.2 percent increase in sales for June, with a total of 269,652 vehicles sold.
What was the best-selling model for Kia in the first half of the year?
The Sportage compact SUV was the top-selling model for Kia in the first half of the year.
