[Hyundai Motor Conference Call] "Domestic Car Sales Expected to Increase by 0.3% to 1.79 Million Units This Year"

[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Company stated in its Q2 2020 earnings conference call on the 23rd that "this year, the domestic automobile market showed strong sales, recording 930,000 units, a 6.5% increase compared to the previous year, due to the early stabilization of COVID-19, new car effects, and government stimulus measures."

However, they added, "From July, the reduction in individual consumption tax cuts has lessened, and the impact of economic downturn is becoming apparent, so the annual figure is expected to be 1.79 million units, a 0.3% increase. Next year, sales are projected to decrease by 1.7% compared to the previous year due to a decline in new car effects."

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