Grandeur/Azera Emerges as Nation’s #1 Seller
SEOUL, Korea, Aug. 2, 2005 - Korea’s economy showed continued signs of a rebound in July as Hyundai Motor Co.’s domestic sales of all vehicles edged up 2.7 percent m-o-m to reach 52,402 units. It was the second consecutive month of 50,000-plus sales in the home market.
A major driver contributing to the growth has been the overwhelmingly positive reception to the new Grandeur (Azera in North American market). Grandeur emerged as Korea’s best selling vehicle with 8,549 units sold and Sonata trailing in second place on sales of 8,552 units. With 10,000 units of the Grandeur on backorder, the new luxury car seems destined to retain its number one sales spot in the coming months.
Sales of passenger cars and vans were up 3.7 percent to 39,326 units while commercial vehicle sales were down a fraction of a percentage point to 13,076 units.
While exports passed the one million unit mark in July, shipments from Hyundai’s Korean factories and sales by overseas subsidiaries in India, China, Turkey and the United States declined by 13.8 percent to 155,593 units. A scheduled shutdown of the number three plant (Avante/Elantra, Lavita/Matrix, Tuscani) at Ulsan for retooling was a leading factor contributing to the decline in export shipments.
Combined domestic and export sales for the month of July reached 207,996 units, equivalent to a 10.1 percent m-o-m decline. With the number three plant now back on line, prospects for a strong recovery in August are good.
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Kia Automotive Group which includes over two dozen auto-related subsidiaries and affiliates. Employing over 50,000 people worldwide, Hyundai Motor posted US$26.1 billion in sales in 2004 (on a non-consolidated basis). Hyundai motor vehicles are sold in 193 countries through some 5000 dealerships and showrooms. Hyundai Motor Co. is a sponsor of the 2006 FIFA Germany World Cup. Further information about Hyundai Motor Co. and its products is available at http://www.hyundai-motor.com/
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