SEOUL, Feb. 1 (Yonhap) -- Hyundai Motor Co., South Korea's largest carmaker by sales, said Friday its sales fell 7.7 percent last month from a year earlier on weak overseas demand.
Hyundai sold 313,313 vehicles in January, down from 339,374 units a year earlier, the company said in a statement.
Domestic sales shot up 18 percent to 60,440 units last month from 51,426 a year ago. But overseas sales dropped 12 percent to 252,873 from 287,948 during the same period, the carmaker said.
Sales declined as the ongoing trade war between the United States and China drove down automobile demand in the world's two biggest automobile markets, the carmaker said.
Last year, Hyundai launched the all-new Santa Fe SUV and the face-lifted Tucson SUV in the U.S., but they did not help buoy sales amid a slowing global economy.
In an effort to boost sales, the maker of the Sonata sedan and Elantra compact plans to launch the flagship Palisade SUV in the U.S. and other markets this year amid growing demand for SUVs.