Hyundai Motor's Domestic Sales See Largest Decline in 6 Years and 6 months... 41% Drop Amid Strike Fallout.
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4 Articles
Hyundai Motor's domestic sales plummeted by over 40% last month, marking the largest decline in six and a half years. This was due to concentrated strikes by the labor union amidst conflicts over wage negotiations. Kia, which had overtaken Hyundai in the domestic market last July, also saw its domestic sales drop by nearly 8%, and the three mid-sized automakers generally experienced declines in both domestic and export sales, putting the domesti…
The number was the lowest monthly result of the company since the beginning of 2022, the main reason being a 41 per cent drop in domestic sales in the Republic of Korea, facilitated by the disruption of production due to strikes by workers. For several weeks, Hyundai ' s employees held partial strikes for a total of about 60 hours, and at the end of August held the first one-day strike in 10 years.
Domestic Sales Drop 41% Due to Hyundai Motor Strike… Kia Grows 5% Driven by Overseas Sales Among the Three Mid-sized Companies, Only GM Korea Sees Growth… KGM and Renault Korea See Double-Digit Decline [Digital Daily Reporter Yoon Seo-yeon] Last month, the combined sales volume of the five major domestic automakers fell below 590,000 units. While Kia and GM Korea increased their sales compared to last year, Hyundai Motor dragged down overall p…
Hyundai Motor sold a total of 288,574 vehicles in domestic and international markets last August. Due to factors such as production disruptions caused by labor union strikes and pent-up demand for new cars, sales dropped 14% compared to the same month last year.
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