[Featured Stocks] Hyundai Motor and Kia See Intraday Rise on Global Sales Improvement

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] Hyundai Motor and Kia are showing an upward trend during trading hours.

As of 10:07 AM on the 2nd, Hyundai Motor recorded 198,500 KRW, up 1.5% from the previous trading day. During the day, Hyundai Motor surged to 203,500 KRW. Kia was traded at 81,300 KRW, up 1.37% from the previous trading day at the same time.

With the announcement of Hyundai Motor and Kia's July sales performance, it is analyzed that the global wholesale sales trend showing a rebound stimulated investor sentiment. Hyundai Motor and Kia showed a rebound mainly in overseas sales despite the traditional domestic business off-season in August.

Overseas, there was a sharp growth trend, with Hyundai Motor selling 286,000 units and Kia 199,000 units, increasing by 14.7% and 12.6% respectively compared to the previous year. Local sales recorded 13.5% and 22.4% respectively, showing a sharp rebound.

Joo Soohong, a researcher at NH Investment & Securities, said, “It is judged that the improvement in Hyundai Motor Group's competitiveness in the U.S. market is reflected in the increase in market share,” adding, “Improvement in product and brand competitiveness, successful sales of electric vehicle dedicated platform (E-GMP) models (Ioniq 5, EV6), and establishment of local production system are expected to drive mid- to long-term growth.”

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