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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Motor's domestic sales fell sharply in February. This is due to a sharp drop in sales of electric vehicles as subsidies have not been finalized.
Hyundai Motor announced on the 4th that it sold a total of 314,909 units in the global market, including 47,653 in Korea and 267,256 overseas in February. Compared to the same period last year, domestic sales fell 26.7 percent and overseas sales rose 1.5 percent.
The drop in sales in South Korea is mainly attributable to the suspension of production of some models, including the Grandeur and Avante, due to the construction of electric vehicle facilities at its Asan plant and the rationalization of the line at its third plant in Ulsan. In addition, the number of working days decreased from last year due to the Lunar New Year holiday in February, and due to the delay in the announcement of subsidies for electric vehicles, the lack of sales of electric vehicles also affected domestic sales.
A total of 7,776 sedans were sold, including 3,963 Grandeurs, 1,423 Sonatas and 2,292 Avantes. A total of 18,299 leisure vehicles (RV) were sold, including 2,365 Palisade, 7,413 Santa Fe, 3,070 Tucson, 1,455 Kona and 3,118 Caspers. Genesis, a premium brand, sold a total of 10,582 units, including G80 3256, GV80 4652 and GV70 1805.
Porter sold 6,355 units and Staria sold 2,878 units, while a total of 1,763 medium and large buses and trucks were sold.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
