Hyundai Motor’s August Exports Surge 80.3 Pct Domestic Sales Rebound 13 Pct

SEOUL, Korea, Sep. 1, 2003 - Following the signing of a new collective labor agreement, Hyundai Motor Co.’s operations normalized in August as total domestic and export sales soared by 53.3 percent over the previous strike-ridden month to reach 149,762 units. The year-to-date sales figure stood at 1,218,146 units, a y-o-y improvement of 1.5 percent.

Exports, including units assembled by overseas subsidiaries and partners, reached 103,692 units in August, up 80.3 percent month-over-month. Cumulative exports for the first eight months were up 16.7 percent y-o-y, equivalent to 788,954 units.

A sluggish domestic economy kept the brakes on August passenger car sales which reached 21,043 units. While representing a 22.8 percent improvement over the previous month, the year-to-date passenger car sales total was down 16 percent last year at 210,682 units.

In August, the top six best selling vehicles in Korea wore the Hyundai badge starting with the Sonata which regained its number one sales crown with 6,666 units sold in the month. Sales of the new facelifted Avante / Elantra were brisk as well at 5,906 units earning it the number two Korean best seller title. August sales of sports utility vehicles and vans were down 2.3 percent m-o-m at 10,766 units.

Sales of passenger cars, SUVs and vans combined stood at 31,809 units, representing a gain of 13 percent over July but in cumulative terms, the total figure was down 17.6 percent at 296,815 units.

Commercial vehicle sales picked up in August reaching 14,261 units for a 18.3 percent m-o-m improvement however, the year-to-date total retreated by 19.1 percent over the comparable period last year to 132,377 units.

Total domestic vehicle sales for Hyundai reached 46,070 units in August, up 14.6 percent over July while the year-to-date total reached 429,192 units, a decline of 18.1 percent y-o-y.

Established in 1969, 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

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