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Hyundai's July sales fall 6.5 pct on weak overseas demand

All News 15:44 August 01, 2018

SEOUL, Aug. 1 (Yonhap) -- Hyundai Motor Co., South Korea's top automaker, said Wednesday its July sales fell 6.5 percent from a year earlier due to weak sales in major markets.

Hyundai Motor sold 339,694 vehicles in July, down from 363,127 units a year earlier, the company said in a statement.

"The monthly results were affected by production losses resulting from strikes at local plants in July during this year's wage negotiations (which were signed last month) and sluggish sales in major markets, such as China," the statement said.

To boost overseas sales, Hyundai said it will launch the Santa Fe SUV in the U.S. market and the facelifted Tucson SUV in China in the second half.

Domestic sales rose 1.3 percent to 60,367 units last month from 59,614 a year ago. Overseas sales declined 8 percent to 279,327 from 303,513 during the same period, it said.

In the January-July period, sales gained 2.9 percent to 2.58 million autos from 2.51 million units a year earlier, the company said.

Hyundai Motor's corporate badge on a car at a dealership in Seoul (Yonhap)


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