Hyundai Motor's sales show signs of recovery in China, and U.S.

By Lim Chang-won Posted : October 4, 2017, 20:57 Updated : October 4, 2017, 20:57

[Courtesy of Hyundai-Beijing]


South Korea's leading carmaker, Hyundai Motor, seems to be coming out of a business slump in the United States and China. Sales have been slow, but the slowdown is gradually recovering.

According to industry sources, Hyundai's sales in China last month reached 85,040 units, up about 60 percent from a month ago, marking the highest level of monthly sales this year. Sales were still 18 percent lower than last year's, but Hyundai is showing a possible recovery.

Hyundai's recovery was attributable to the operation of its new plant in Chongqing two months earlier than expected. The Chongqing factory unveiled its first new strategic model in an effort to reverse a sales slump in the world’s biggest auto market where sales of South Korean products have slumped due to a diplomatic row over the deployment of a US missile shield.

The Chongqing plant is part of Hyundai's strategy to strengthen competitiveness by producing high-quality new models for Chinese consumers.

In the first nine months of this year, Hyundai's total sales in China stood at 489,300 units, down 37.18 percent from a year earlier. Hyundai plans to concentrate on improving earnings through the marketing of new models in the second half because it is difficult to achieve the earlier year-end target of 800,000 units.

Sales in the U.S. are also recovering. Hyundai sold 57,007 units in the U.S. last month, down 14.4 percent from a year earlier. The decline is slower than in July and August. In the first nine months, Hyundai sold 511,740 units, down 12.9 percent from a year earlier.

Hyundai's affiliate, Kia Motors, posted a record high of sales in September, helped by brisk sales of Forte compact cars and Optimas.



기사 이미지 확대 보기
닫기