Hyundai Motor August Sales Dip Due to Holidays
SEOUL - Hyundai Motor Co. posted on Wednesday its poorest sales in six months, as demand weakened in the summer vacation period, but it fared better than smaller rivals after introducing an upgraded car in its domestic market, reported Reuters.
South Korea's Hyundai, the world's No.5 automaker along with its affiliate Kia Motor Corp., said August sales rose 17 percent from a year earlier but fell 2.2 percent from July to 288,313 units, the lowest since February.
Its local sales inched up 0.6 percent after it unveiled a new, upgraded Elantra compact last month.
"Competition in the domestic market remains tough and we plan to further upgrade ageing models and boost marketing to revive weak domestic sales," Hyundai said in a statement.
Sales in overseas markets dropped 2.8 percent from July to 238,951 vehicles but rose 20 percent from a year ago, thanks to increased demand from China and the United States.
Hyundai said sales in the United States jumped more than 18 percent, helped by a new Sonata sedan, which accounted for nearly half of Hyundai's U.S. sales this year and helped it grow its market share there to a record 4.6 percent this year.
But U.S. safety regulators have opened a preliminary investigation into claims that Sonata, Hyundai's best-selling car in America, may have steering problems, government officials said on Tuesday.
Kia Motors, Korea's second-largest automaker, saw its sales slump 16 percent in August from a record in July and hit a 6-month low, affected by weak seasonality.
Ssangyong Motor Co., which is in bankruptcy protection and signed a preliminary acquisition deal with India's Mahindra & Mahindra Ltd. in August, said sales more than tripled from a year ago as it remained on a firm recovery track. But vehicle sales edged down 11 percent from the previous month.
Shares in Hyundai Motor finished up 1.8 percent and Kia shares jumped 3.6 percent after it reached a tentative agreement with its labor union on a wage deal, which will help it avoid annual labor strikes for the first time in two decades.
More Industry

Autos More Appealing
Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.
Read More →
Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →