• October global sales totaled 385,947 units, down 4.2% Y/y
  • Sales in Korea were up 1.2% to 65,669 units
  • Sales outside of Korea decreased 5.2% to 320,278 units
  • Hyundai Motor to minimize the business impact of global economic slowdown with risk management

SEOUL, November 2, 2020 Hyundai Motor Company announced October global sales of 385,947 units, a 4.2-percent decline from a year earlier. The decrease mainly stems from the slowdown in economic activities resulting from COVID-19 pandemic.

Korea Sales

Sales in Korea, Hyundai’s home market, increased 1.2 percent year-over-year to 65,669 units. Grandeur sedan (sold as Azera in some markets) continues to lead domestic sales with 10,926 units. Other models, such as Elantra sedan and Palisade SUV, also helped to maintain sales momentum as well as brisk sales of Genesis luxury brand models, including G80 sedan and GV80 SUV.

Overseas Sales

In markets outside of Korea, Hyundai recorded sales of 320,278 units, 5.2 percent down from a year earlier as the global economic slowdown from the COVID-19 pandemic continues to weigh on automotive demand worldwide.

Hyundai will focus on sales recovery in global markets amid continued concerns over the resurgent COVID-19. The company has implemented various measures to take care of its customers, such as extending warranty periods, and is launching new models online. In particular, the company is preparing to launch the upcoming Genesis GV70 luxury SUV in the global market.

Sales Results (Units)

Subject
October
’20
October
’19
Y/Y Change
September
20
M/M Change2020 YTD2019 YTDYTD Change
Korea Sales65,66964,9121.2%67,080-2.1%649,333612,3476.0%
Overseas Sales320,278337,800-5.2%294,6318.7%2,341,7683,020,034-22.5%
Global Sales385,947402,712-4.2%361,7116.7%2,991,1013,632,381-17.7%

* Monthly sales figures provided in this press release are unaudited and on a preliminary basis.

1. Sales in Korea is based on retail sales while overseas sales (global sales excluding Korea) is based on wholesales.

2. Sales results include entire sedan, SUV and CV models produced by Hyundai Motor.

NC

Ka-Chow!