SEOUL, Korea, May 3, 2004 - Domestic sales rebounded sharply in April giving Hyundai Motor Co.’s the best performance since October of last year. Led by strong sales of the newly launched Tucson sports utility vehicle, the April domestic tally reached 51,521 units equivalent to a 13.6 percent m-o-m improvement.
Export sales in April, however, slipped m-o-m to 134,406 units owing to a week-long closure of the Chennai plant in India. The scheduled shutdown was necessitated by facility expansion work. However, in year-to-date terms, Hyundai has sold 498,502 units overseas, equivalent to a 21.7 percent increase over the same period last year. Exports from the company’s three Korean plants were up 8.2 percent in the Jan-Apr period to reach 379,888 units while sales from overseas plants saw growth of 103.1 percent to reach 118,614 units.
Domestic sales were spurred by strong demand for the new Tucson which has a fast-growing backlog of orders totaling 20,987 units. Demand for the Santa Fe was surprisingly strong: The sport utility vehicle emerged as the company’s number one domestic seller in April selling 6,445 units. Tucson sales trailed slightly with 6,332 units sold. In all, 36,465 sport utility vehicles and minivans were sold in April, up 21.7 percent over the previous month.
Truck sales rose by 10.8 percent m-o-m to 15,056 units but the gains were not enough to offset the weak sales of buses. Only 5,773 buses were sold in April, equivalent to an 18 percent m-o-m decline.
In total, Hyundai sold a total of 185,927 units at home and abroad during April, registering no net change from the previous month.
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Automotive Group which includes Kia Motors Corp. and over two dozen auto-related subsidiaries and affiliates. Employing nearly 50,000 people worldwide, Hyundai Motor posted US$21.94 billion in sales in 2002. Hyundai motor vehicles are sold in 166 countries through 4,504 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available on the Internet at http://www.hyundai-motor.com