[Special Stock] Hyundai Motor and Kia Weaken Amid September Sales Slump

Automotive-related stocks such as Hyundai Motor and Kia are showing weakness in early trading due to disappointment over sluggish sales performance in September.

As of 9:19 a.m. on the 4th, Hyundai Motor is trading at 232,500 KRW on the KOSPI, down 4,500 KRW (1.9%) from the previous close. The trading volume is around 100,000 shares, with a trading value of approximately 23.9 billion KRW.

At the same time, Kia is also trading down 700 KRW (0.71%) from the previous day at 98,000 KRW.

Hyundai Motor announced on the 2nd that its automobile sales volume for September 2024 was 343,824 units, a 3.7% decrease compared to the same month last year. Domestic sales increased by 3.5% to 55,805 units, but overseas sales declined by 5% to 288,019 units. The cumulative sales for this year (January to September) stand at 3,075,861 units, which is 1.6% lower than the previous year.

Kia also reported that its automobile sales volume for September 2024 totaled 249,842 units, down 4.5% year-on-year. Domestic sales fell 13.6%, and overseas sales decreased by 2.7%. The cumulative sales for this year (January to September) amount to 2,319,332 units, 1.5% less than the previous year.