Hyundai Motor Co’s May sales fell 39% year-on-year due to the COVID-19 outbreak

Hyundai Motor said its provisional sales in May dropped by 39% year-on-year to 217,510 vehicles worldwide, because the coronavirus outbreak continued to hit demand in key markets.

Sales were, nevertheless, up around 30% from 167,693 cars in April.

  Learn about the COVID-19 pandemic from News Hour  

Its domestic sales rose 5% year-on-year, led by popular models like the Grandeur sedan and new models like all-new Elantra and premium brand Genesis’ G80 sedan.

Yet, worldwide sales dropped by 50% on year because of weak auto demand from slowing economic activities stemming from COVID-19, the automaker said in a statement.

Auto exports of South Korea in May fell 54% on year despite the sequential resumption of sales at dealerships in major countries, because of the increased inventory from low sales within the previous month and decreased demand in major markets like the U.S. and Europe, the trade ministry said in separate statement.

Hyundai Motor’s sister company Kia Motors declared provisional sales of May of 160,913 cars, down 33% from a year ago, while its domestic sales rose 19% on year, worldwide sales dropped by 44%.

Follow News Hour
News Hour Correspondent

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments
Scroll Up
%d bloggers like this: