Production disruptions around the world and a significantly weaker demand caused by the Covid-19 are the key triggers
06 May 2020 | 2642 Views | By Autocar Pro News Desk
Hyundai Motor Company's April global sales have sharply dropped by 56.9 percent to 159,079 units (April 2019: 368,953 units) on a year on year basis. Even compared to March, 2020, the Korean car major sold 48% less cars (March 2020: 307,183) in April.
Production disruptions around the world and a significantly ...
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Hyundai Motor Company's April global sales have sharply dropped by 56.9 percent to 159,079 units (April 2019: 368,953 units) on a year on year basis. Even compared to March, 2020, the Korean car major sold 48% less cars (March 2020: 307,183) in April.
Production disruptions around the world and a significantly weaker demand caused by the Covid-19 and the lockdown in several countries as a result are seen as the major triggers for this significant downtrend.
Korean sales remain flat
In its home market, Hyundai saw 0.5 percent decline to 71,042 units year on year (April 2019: 71,413 units). Popular models such as Grandeur sedan led domestic sales with 15,000 units. Strong performance of new models, including the all-new Avante (sold as Elantra in some markets) as well as the G80 sedan and GV80 SUV of the Genesis luxury brand cushioned the sales numbers in Korea.
Overseas sales take a hit
For other markets, April sales slowed to 88,037 units, down 70.40 percent compared with 297,540 units in April, 2019 amid shutdown of most overseas plants.
To mitigate market uncertainty caused by Covid-19, Hyundai Motor will implement measures tailored for individual regions to spur a speedy recovery. Hyundai Motor will also raise its risk management capability and stabilise its supply chain to minimise the negative business impact from spread of Covid-19 pandemic.
The company is also in the process of implementing various schemes to extend its customer care services. It is extending warranty periods and launching new models online.
Also read: Kia's global sales down 41% in April as Covid saps demand