Hyundai Motor "Sales in North America Expected to Decrease by 10-20% Due to COVID-19"

[Asia Economy Reporter Kiho Sung] Hyundai Motor Company announced that sales in the North American region, its largest export market, are expected to decrease by about 10-20% due to the novel coronavirus disease (COVID-19).

Jose Munoz, Hyundai Motor's Global Chief Operating Officer (COO) and President of the North America Division, said in an interview with a U.S. automotive media outlet on the 17th (local time), "It's still difficult to make a definitive statement, but if things continue as they are, annual sales will likely be affected by 10 to 20%."

Munoz stated, "Some dealers have already closed due to government policies, causing disruptions in sales," and added, "Everyone will be affected to some extent this weekend."

He mentioned that the worst-case scenario assumes the impact of COVID-19 will last until July or August. He also expressed hope that, like in Asian countries, the situation in Europe and the U.S. will calm down to some degree.

Until last month, Hyundai Motor was showing smooth progress, including achieving record-high sales in the U.S.

Hyundai plans to boost sales through the new Avante (known locally as Elantra). The company unveiled the completely redesigned Avante first in Los Angeles, U.S., on the 17th (local time).

This content was produced with the assistance of AI translation services.