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| June 1 |
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Hyundai's May Sales Down 5.1 pct m-o-m |
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- Domestic passenger car sales up 10.1 pct m-o-m
- Jan-May global sales up 15 pct y-o-y
(Seoul, Korea) Hyundai Motor Co. saw mixed sales results in May as domestic sales showed signs of a rebound growing by 2.4 pct m-o-m while overseas sales slid by 7.1 pct from April.
On a global basis, Hyundai's May sales slowed by 5.1 pct from April to 202,087 units worldwide. Despite the dip, the Jan-May global sales total stands at 998,153 units, 15 pct ahead of the same period last year putting Hyundai on track to another banner year.
The most positive development of the month was the 10.2 pct m-o-m rise in Korean sales of passenger cars, SUVs and minivans which reached 33,100 units led by strong demand for the new Sonata sedan and Tucson SIV. However, this was offset by a 13.4 pct m-o-m decline in the sales of commercial vehicles to 12,721 units as key economic indicators remained weak. Nevertheless, total domestic vehicle sales inched up 2.4 pct m-o-m to 45,871 units.
With 788,406 units sold abroad during the first five months of this year, Hyundai's overseas sales are up a healthy 22.7 pct y-o-y. But May overseas sales results were negatively impacted by the near one month-long scheduled shutdown of the Beijing Hyundai operation for a plant expansion project. Hyundai delivered 156,266 units overseas in May, down 7.1 pct m-o-m but management is expecting a quick rebound now that the Beijing Hyundai operations are normalized. In addition, the Tucson will go into production at Beijing Hyundai in June, and will join the Sonata and Elantra as the third Chinese-built Hyundai in local showrooms.
About HMC
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Kia Automotive Group which includes over two dozen auto-related subsidiaries and affiliates. Employing over 68,000 people worldwide, Hyundai Motor posted US$26.1 billion in sales in 2004 (on a non-consolidated basis). Hyundai motor vehicles are sold in 193 countries through some 5000 dealerships and showrooms. Hyundai Motor Co. is a sponsor of the 2006 FIFA Germany World Cup. Further information about Hyundai Motor Co. and its products is available at http://www.hyundai-motor.com
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