April 26, 2024

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[THE INVESTOR] Hyundai Motor and its affiliate Kia Motors said on March 19 their combined January sales in China fell 18 percent from a year earlier. 

In January, Hyundai and Kia, which together form the world‘s fifth-biggest carmaker by sales, sold a total 90,162 vehicles, down from 110,097 units a year earlier. January sales plunged 49 percent from 175,459 units a month earlier, according to corporate sales data.

Last year, the two carmakers suffered a sharp sales decline in the world’s biggest automobile market due to political tensions between Seoul and Beijing over the deployment of THAAD.

Sales data in China for February have yet to be collected, the company said.

The two carmakers also did not do well in the United States in the January-February period, with sales totaling 163,637 vehicles, down 8 percent from 177,826 autos a year ago.

But in Europe, they saw their sales jump 8.3 percent on-year to 153,548 units in the first two months, up from 141,822 units, the data showed.

To help boost sales in key major markets, Hyundai and Kia gradually plan to ship more upgraded and new models, such as Hyundai’s Santa Fe sport utility vehicle and Kia’s K3 compact, this year.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)