Hyundai Motor’s May sales plunge 39 percent year-on-year

An employee wearing a mask to prevent contracting the coronavirus disease waits for custormers next to a Hyundai Motor’s vehicle at Hyundai Motor Studio in Goyang, South Korea. REUTERS

South Korea’s Hyundai Motor Co said on Monday its provisional May sales fell 39 percent year-on-year to 217,510 vehicles globally, as the coronavirus outbreak continued to hit demand in key markets.

Sales were, however, up about 30 percent from 167,693 vehicles in April.

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

However, overseas sales fell 50 percent on year due to weak auto demand from slowing economic activities stemming from COVID-19, the automaker said in a statement.

South Korea’s May auto exports fell 54 percent on year despite the sequential resumption of sales at dealerships in major countries, due to increased inventory from low sales in the previous month and decreased demand in major markets such as the US and Europe, the trade ministry said in a separate statement on Monday.

Hyundai Motor’s sister company Kia Motors announced provisional May sales of 160,913 vehicles, down 33 percent from a year ago, while its domestic sales rose 19 percent on year, overseas sales fell 44 percent.

Together, they are the world’s fifth-largest automaker. (REUTERS)

Related post

2022 KTM Adventure 390 unveiled

KTM has officially revealed the updates on the Adventure 390. The all-new 2022 Adventure 390 comes with major upgrades to the bodywork and features, such as the addition of two-mode traction control: street mode and off-road mode.

Read More

All-new Skoda Karoq 2022 unveiled

The updated SUV comes with a new design, improved aerodynamics, and modern assistance and infotainment systems.

Read More

Suzuki unveils the S-Cross 2022 with new hybrid engine

Suzuki Motor Corporation has announced the world premiere of its all-new S-CROSS SUV. Sale of the all-new S-CROSS will start in Europe from the end of 2021, followed by exports to Latin America, Oceania, and Asia.

Read More

Yamaha unveils the MT-10 SP

The MT-10 SP gets a crossplane crankshaft engine–derived from Yamaha’s R1 superbikes–that minimizes the inertial engine torque and provides maximum-traction and linear torque feel.

Powering the new MT-10 SP is a 998cc, liquid-cooled, 4-cylinder, 16-valve, DOHC engine–mated to six-speed gearbox–that generates a power of 122 kW and a torque of 112 Nm.

Read More

2022 Volkswagen T-Roc facelift unveiled

Volkswagen has unveiled the all-new 2022 T-Roc. The SUV, built on the MQB-AO platform, will be the latest addition to Volkswagen’s SUV lineup of the Tiguan and the Taigun. Design On the exterior, the all-new T-Roc gets some notable changes such as wider grille, slimmer headlights, addition of ID lights (with matrix LEDs), brake-cooling vents, […]

Read More

Shadow Top Brand Shadow