Hyundai Reports 3.7% Decline in Global Sales for November Amidst Decreased Demand
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Seoul, Dec 2 (NationPress) Hyundai Motor, the largest automotive producer in South Korea, revealed on Monday that its sales experienced a 3.7% decrease last month compared to the same period last year, caused by a downturn in vehicle demand.
In November, Hyundai Motor sold 355,729 vehicles, a drop from 369,356 units in the previous year, as stated by the company.
Sales within the domestic market decreased by 12.3% to 63,170 units, while international sales fell by 1.6% to 292,559, according to the statement.
From January through October, the company’s overall sales declined 1.7%, totaling 3,809,424 units compared to 3,873,724 during the same period last year, as reported by Yonhap news agency.
"The business landscape is predicted to remain tough due to issues like exchange rate and interest rate volatility, alongside increasing geopolitical tensions," mentioned a Hyundai official.
The official further indicated that the firm plans to emphasize the sales of hybrid vehicles, which are witnessing a rise in global demand, while progressively launching next-generation models to maintain their sales growth.
In contrast, Kia, the second-largest carmaker in South Korea, announced on Monday that it experienced a 0.8% increase in sales last month compared to the previous year, driven by a slight uptick in international demand.
Kia, which is affiliated with Hyundai Motor, sold 262,426 vehicles in November, an increase from 260,363 units the year before, as reported by the company.
Domestic sales dropped 4% year-on-year to 48,015 units, but international sales rose by 1.9% to 213,835 during the same timeframe.
From January to November, sales were down 0.9% year-on-year, totaling 2,872,228 units.
"Beginning in December, we will concentrate on enhancing sales momentum by launching updated models of the Sportage and the Carnival hybrid," stated a company representative.
Kia also plans to bolster its electric vehicle portfolio with the anticipated EV4 and EV5 models, along with unveiling a new Tasman pickup truck model next year to further boost sales, added the representative.
