Hyundai Motor Co. Sees 4.9 Pct Decline in July Sales

SEOUL, Korea, Aug. 2, 2004 - Sluggish domestic demand and a seasonal slowdown in export shipments in July contributed to a 4.9 percent m-o-m decline as sales for Hyundai Motor Co. totaled 186,929 units. Nevertheless, Korea’s number one automaker is ahead of the game with a Jan-July sales total of 1,251,192 units which represents a 17.1 percent improvement over the same period last year.

July was milestone month as Hyundai’s cumulative exports passed the 10 million mark. July export sales from Korean factories as down 7.2 percent m-o-m to 105,519 units while sales by Hyundai’s three transplants—India, Turkey and China—reached 37,296 units, a 2.2 percent gain over the month earlier.

While Hyundai’s total domestic sales were down 4.8 percent m-o-m to 44,114 units, the company managed to increase its domestic market share to 51 percent. Domestic sales of passenger cars held steady as 18,334 units were delivered in July, nearly unchanged from the 18,306 units seen in June. Sonata ruled as the nation’s best selling car with sales of 7,432 units—an impressive accomplishment given the fact that the model is at the very end of its life cycle and is due for a full replacement in late August by the NF model.

Sales of vans and SUVs also held their ground as 12,861 units were sold, representing a decline of just 1.7 percent over June. Santa Fe dominated the segment followed by the Tucson.

Sales of commercial vehicles reached 12,919 units, down 13.5 percent over the month earlier. Bus sales increased by 11.9 percent to 5,769 units led by strong sales of the Starex. However, truck sales declined by 26.9 percent m-o-m to 7,150 units.

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