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Hyundai sales in May fall sharply year-on-year due to COVID-19

South Korea’s Hyundai Motors stated on Monday its provisional May sales dropped 39% year-on-year to 217,510 vehicles worldwide, as the coronavirus outbreak continued to damage demand in key markets.

Sales however increased 30% from 167,693 vehicles in April.

Its domestic sales increased 5% year-on-year, led by popular models such as the Grandeur sedan and new models including all-new Elantra and premium brand Genesis’ G80 sedan.

However, overseas sales dropped 50% on year because of weak auto demand from slowing economic activities due to COVID-19, the automaker stated.

South Korea’s May auto exports dropped 54% on year regardless of the sequential resumption of sales at dealerships in major nations, because of increased inventory from low sales in the past month and decreased demand in major markets such as the U.S. and Europe, the trade ministry stated in a separate statement on Monday.

Hyundai’s sister company Kia Motors declared provisional May sales of 160,913 vehicles, dropping 33% from a year ago, while its domestic sales rose 19% on year, overseas sales dropped 44%.

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