Hyundai Motor's Overseas Sales in May Halved Year-on-Year Again... Domestic Sales Increase by 4%

[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Company announced on the 1st that it sold 217,510 units worldwide in May (78,100 units domestically, 146,700 units overseas). Compared to the same period last year, domestic sales slightly increased, while overseas sales were halved due to the impact of the novel coronavirus disease (COVID-19).

In the domestic market last month, Hyundai sold 78,100 units, a 4.5% increase compared to the same period last year. Sedans led domestic sales with the Grandeur (including 3,073 hybrid models) recording 13,416 units, followed by the Avante (including 413 units of the old model) with 9,382 units, and the Sonata (including 1,306 hybrid models) with 5,827 units, totaling 29,080 units sold.

In particular, sales of the Avante, which launched a new model in April, nearly doubled compared to the same period last year. The Grandeur increased sales by 61.1% during the same period, becoming the best-selling car in the domestic market for seven consecutive months.

Recreational vehicles (RVs) recorded 16,803 units, including 5,765 units of the Santa Fe, 4,177 units of the Palisade, and 2,913 units of the Kona (including 966 hybrid models and 531 electric vehicle models). Commercial vehicles sold 9,567 units of small commercial vehicles, combining the Grand Starex and Porter, and 2,400 units of large commercial vehicles, including medium and large buses and trucks.

Premium brand Genesis led overall brand sales with 7,582 units of the G80 (including 66 units of the old model). The sport utility vehicle (SUV) model GV80 recorded sales of 4,164 units. The G70 and G90 sold 613 and 601 units, respectively.

A Hyundai Motor official said, “Newly launched models such as the G80 and Avante continued their popularity, leading to increased domestic market sales,” adding, “We will focus all our company’s capabilities on overcoming the ongoing crisis and strive to normalize sales.”

On the other hand, overseas sales continued to be sluggish. Hyundai sold 146,700 units overseas in May, a 49.6% decrease compared to the same period last year. The company was hit hard by demand contraction due to COVID-19 and the suspension of operations at some overseas plants. However, compared to April, when sales dropped by more than 70% year-on-year, the decline has somewhat slowed.

A Hyundai Motor official stated, “To overcome the unprecedented global crisis, we are preparing region-specific countermeasures and will work hard for early normalization,” adding, “We will continue proactive risk management efforts to minimize negative impacts and secure a stable supply chain.”