Export Cliff Realized... Hyundai Motor's Overseas Sales in April Plunge 70.4% YoY

Domestic Sales 'Hold Up' with Only 0.5% Decline Thanks to New Car Effects of Grandeur and Avante

The New Grandeur (Photo by Hyundai Motor Company)

[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Company announced on the 6th that it sold 159,079 units worldwide last month (71,042 units domestically, 88,037 units overseas). Compared to the same period last year, domestic sales decreased by 0.5%, while overseas sales plummeted by 70.4% due to the direct impact of the COVID-19 pandemic.

In April, Hyundai sold 71,042 units in the domestic market, a 0.5% decrease compared to the same period last year. Among sedans, the Grandeur (including 3,434 hybrid models) led domestic sales with 15,000 units sold. Following were the Avante (including 802 units of the old model) with 8,249 units, and the Sonata (including 593 hybrid models) with 5,385 units, totaling 29,462 sedans sold.

The Avante, which launched a new model last month, achieved its highest sales in 3 years and 10 months since June 2016, recording 12,364 units sold. The Grandeur saw a 48% increase in sales compared to the same period last year, becoming the best-selling car in the domestic market for six consecutive months.

Recreational Vehicles (RVs) sold a total of 18,116 units, including 5,873 Palisades, 4,288 Konas (including 940 hybrid models and 1,232 electric vehicles), and 3,468 Santa Fes.

Commercial vehicles recorded 10,645 units for small commercial vehicles combining the Grand Starex and Porter, and 2,602 units for large commercial vehicles combining medium and large buses and trucks.

For the premium brand Genesis, the G80 (including 259 units of the old model) was the best seller with 4,416 units, followed by the G70 with 826 units and the G90 with 651 units sold. The SUV model GV80 recorded sales of 4,324 units. Total Genesis brand sales amounted to 10,217 units.

A Hyundai Motor official stated, “Despite the new car effect, sales declined due to production disruptions and weakened demand,” adding, “We will concentrate the company’s full capabilities on activities to overcome the crisis and strive to normalize sales.”

In overseas markets last month, Hyundai sold 88,037 units, a 70.4% decrease compared to the same period last year. This was due to demand contraction caused by COVID-19 and the suspension of operations at some overseas plants.

A Hyundai Motor official said, “We will prepare regional countermeasures to overcome the global crisis and work hard for early normalization,” and added, “We will continue proactive risk management efforts to minimize negative impacts and secure a stable supply chain.”

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