Hyundai Reports 2% Drop in March Sales; Kia Sees 2.2% Increase
Click to start listening
Synopsis
Hyundai Motor's sales in March fell by 2% year-on-year, impacted by a decline in overseas markets, while Kia's sales rose by 2.2%, benefiting from increased demand both domestically and internationally.
Key Takeaways
- Hyundai's March sales dropped by 2%.
- Kia's March sales increased by 2.2%.
- Domestic sales for Hyundai rose 0.9%.
- Sorento was Kia's bestselling model at home.
- Kia achieved record first-quarter sales.
Seoul, April 1 (NationPress) Hyundai Motor announced on Tuesday that its sales for March saw a decline of 2 percent compared to the same month last year, primarily due to a downturn in international markets.
The automaker registered 365,812 vehicles sold last month, a decrease from 373,290 units in March of the previous year, as detailed in a company press release.
In its home market, sales rose by 0.9 percent year-on-year to 63,090 units, whereas international sales fell by 2.6 percent to 302,722 units, according to Yonhap news agency.
The most popular model domestically was the Avante, with 6,829 units sold, followed closely by the Grandeur sedan at 6,211 units. The Sante Fe emerged as the top-selling sport utility vehicle (SUV) in the domestic market, with 5,591 units sold.
A Hyundai Motor representative stated, “We will enhance our sales and production frameworks to align with local demand and regulations to adapt swiftly to regional market fluctuations.”
On the other hand, Kia reported a 2.2 percent increase in its March sales compared to the prior year, attributing this growth to heightened demand both domestically and internationally.
Kia's sales reached 278,058 vehicles last month, up from 272,011 units in the same month the previous year, according to their press release.
Domestic sales rose by 2 percent year-on-year to 50,006 units, while international sales experienced a 2.2 percent increase, reaching 227,724 units.
In terms of vehicle models, the Sportage SUV was the top seller in international markets, with 42,579 units sold. It was succeeded by the Sorento and K3, which sold 20,439 units and 18,200 units, respectively.
In the domestic sphere, the Sorento led with 10,155 units sold.
Kia highlighted that it achieved its highest-ever first-quarter sales, reporting a total of 772,351 vehicles sold between January and March, marking a 1.6 percent increase from the same timeframe last year.
A Kia representative mentioned, “Sales of hybrid variants of key models, including the EV3, Sportage, and Sorento, which were introduced in the latter half of last year, significantly boosted sales and contributed to our record first-quarter results.”
