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Reduced output sets Hyundai Motor sales back 2 pct in Sept.

All News 15:55 October 04, 2016

SEOUL, Oct. 4 (Yonhap) -- South Korea's top automaker Hyundai Motor Co. said Tuesday that its global sales slipped slightly from a year earlier in September due largely to a cut in domestic output caused by a series of labor strikes.

Overall global sales of the No. 1 carmaker here came to 387,302 cars last month, down 2 percent from the same month last year, the company said in a regulatory filing.

The on-year drop was attributed to a large cut in domestic sales caused by a sharp drop in output.

Domestic sales plunged 20 percent on-year to 41,548 vehicles.

Overseas sales, on the other hand, inched up 0.8 percent on-year to 345,754 cars as the sales of cars produced overseas grew 6.4 percent to over 271,000 vehicles, more than offsetting a 20.9 percent plunge in outbound shipments of cars produced here.

For the January-September period, Hyundai Motor sold 3,479,326 cars globally, down 1.7 percent from the same period last year, with its domestic sales slipping 3.3 percent on-year to 482,663 vehicles, and overseas sales falling 1.4 percent to 2,996,663 units.

Shares of Hyundai Motor closed 2.58 percent higher at 139,000 won (US$125.42) on Tuesday. The September sales figures were released after the local stock market closed at 3:30 p.m.


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