Seoul, South Korea – Hyundai Motor, South Korea’s largest automaker, announced Monday a 2.4% year-on-year decline in its monthly sales for November, citing weak demand in both its domestic and overseas markets.
Hyundai Motor Company stated that its total vehicle sales reached 349,507 units last month. This represents a decrease from the 358,032 units sold in November of the previous year.
Details of the decline by market
Hyundai Motor Company reported that domestic sales in the Korean market fell by 3.4% year-on-year to 61,008 units, while overseas sales declined by 2.2% to 288,499 units.
Hyundai Motor sold 18,099 sedans and 22,643 SUVs in the Korean market. Its independent luxury brand, Genesis, recorded sales of 11,465 units.
Company’s plan for the future
Commenting on the results, a Hyundai official said: “We will work to strengthen our sales and production system to better respond to local demand and policies.”
The official added that the company plans “to maintain its sales volume of hybrid cars. This will be done while expanding its market share through the launch of new, competitive vehicles.”
