[Featured Stocks] Hyundai and Kia Motors Soar with Boosted Vehicle Sales... Stock Prices Also 'Flying High'

[Asia Economy Reporter Ji Yeon-jin] Hyundai Motor and Kia Motors are showing a sharp upward trend on the KOSPI market on the 2nd, following news of strong finished car sales.

As of 9:53 a.m. on the day, Hyundai Motor is trading at 229,500 KRW, up 4.79% from the previous day. At the same time, Kia Motors is also recording 87,000 KRW, up 4.19%.

Hyundai Motor's domestic and overseas finished car sales in March increased by 22.4% year-on-year to 375,924 units, while Kia Motors recorded 251,362 units, up 8.6% during the same period. In particular, overseas sales for both companies were 300,000 and 200,000 units respectively, showing increases of 29% and 11%.

Kim Min-seon, a researcher at Kiwoom Securities, said, "Hyundai Motor has started full-scale deliveries of the Tucson and GV70, and Kia is experiencing prolonged strong sales of the Sorento and Carnival," adding, "Although some production disruptions may occur in the second quarter due to parts supply issues, industrial demand remains solid thanks to the increase in contract volumes and the lengthening of delivery waiting periods."

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