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| February 2 |
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Hyundai January Exports Climb Domestic Sales Remain Sluggish |
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- Jan. exports up 5.3 pct y-o-y to 100,809 units,
- Domestic sales at 37,469 units are down 38.2 pct y-o-y
- Hyundai Sonata retains title as Korea's best selling vehicle
(Seoul, Korea) Hyundai Motor Co.'s January sales results were mixed as exports continued their steady climb while domestic sales languished due to continued sluggishness in the domestic economy.
In January, Hyundai's total domestic sales, including passenger car, SUVs and commercial vehicles, slid by 38.2 percent from the previous January to reach 37,469 units. The extended lunar New Year holiday reduced the number of shopping days and cut into sales. Passenger car sales for the same period where down 34.1 percent to reach 18,728 units in the first month of the new year. Sales of lifestyle vehicles including the Santa Fe SUV were also down, reaching just 8,366 units for the month. Combined sales of passenger cars and lifestyle vehicles reached just 27,094 units in January, down 36.6 percent y-o-y.
Sales of vans and buses plunged 56.1 percent y-o-y to reach 3,529 units while sales of all classes of trucks and heavy duty commercial vehicles reached 10,375 units, down 42.1 percent y-o-y.
Exports proved to be the silver lining behind the cloud as shipments of Hyundai-made vehicles and production at the company's overseas plants reached 100,809 units, up 5.3 percent over January 2003. Of the total, 73,198 units were shipped from Korea (down 12.0 percent y-o-y) and 27,611 units were manufactured overseas, up 121 percent y-o-y.
Hyundai's total domestic and overseas sales reached 138,278 units in January 2004, down 11.6 percent over January 2003. Sales prospects are likely to improve: Industry analysts expect the domestic economy to begin recovering by the second quarter while Hyundai's new SUV, Tucson is set for a spring launch date in the domestic market, both of which should help increase showroom traffic.
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Automotive Group which includes Kia Motors Corp. and over two dozen auto-related subsidiaries and affiliates. Employing nearly 50,000 people worldwide, Hyundai Motor posted US$21.94 billion in sales in 2002. Hyundai motor vehicles are sold in 166 countries through 4,504 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available on the Internet at http://www.hyundai-motor.com |
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