[Weekly HOT Stocks] Hyundai Motor, Sales Volume Recovery Expected... Hits 52-Week High

On the 7th, it surged intraday to 149,500 won... Significant expectations for electric vehicles

Genesis GV80 by Hyundai Motor Company (Photo by Asia Economy DB)

[Asia Economy Reporter Kum Boryeong] Hyundai Motor Company attracted market attention throughout the week amid expectations of strong performance in the second half of the year.

According to the Korea Exchange on the 9th, Hyundai Motor's stock price closed at 147,000 KRW on the 7th.

Hyundai Motor's stock price rose continuously over five trading days. The closing price, which was 126,500 KRW on the 31st of last month, steadily increased to 127,000 KRW on the 3rd, 132,500 KRW on the 4th, 134,000 KRW on the 5th, and 144,500 KRW on the 6th. On the 7th, it reached an intraday high of 149,500 KRW, setting a 52-week high.

Hyundai Motor's sales volume is gradually recovering. According to Samsung Securities, Hyundai Motor's global wholesale sales last month were 313,000 units, down 12.5% year-on-year but up 1.1% compared to June. In particular, although overseas wholesale sales continued to decline due to the impact of COVID-19, the year-on-year decrease narrowed on a monthly basis. Compared to the previous year, April was -67.5%, May -46.5%, June -28.5%, and last month -20.8%.

Domestic market sales reached 77,000 units, showing a 28.4% increase year-on-year. Although there were concerns about domestic sales due to the reduced individual consumption tax cut last month, the decline was limited to 7.7% compared to the previous month. Samsung Securities researcher Lim Eun-young explained, "Global wholesale sales in August are expected to be 330,000 units, down 9% year-on-year," adding, "Hyundai Motor's U.S. retail sales are expected to increase after October with the introduction of the GV80 and G80."

Expectations for electric vehicles are also significant. On the 14th of last month, Chung Eui-sun, Hyundai Motor's Executive Vice Chairman, declared the goal of achieving over 10% global electric vehicle market share by 2025 and becoming the world's number one company. Lee Jae-il, a researcher at Eugene Investment & Securities, analyzed, "In the newly emerging electric vehicle market, market share competition will determine the fate of automakers," adding, "By holding a series of meetings with Samsung Electronics Vice Chairman Lee Jae-yong, LG Chairman Koo Kwang-mo, and SK Chairman Chey Tae-won regarding future car strategies, a cooperative relationship among major domestic conglomerates has been established, enabling a scenario of mutual growth across the entire value chain through expanding market share in the eco-friendly vehicle market and securing a leading position in the global market."

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