Hyundai Sets Sales Records in Key Markets

Enjoys best March sales ever in North America and Europe

SEOUL, Korea, April 4, 2003 -Despite the challenging economic environment and increasingly tougher competition, Hyundai Motor Co. saw March sales and first quarter results move into record territory in Europe and North America—two of the most important overseas markets for the Korean automaker.

Local marketing executives expressed delight at the strong sales results while remaining cautiously optimistic about the coming months.

“A growing number of quality-conscious customers put confidence in the Hyundai brand, which shows us that we are on the right track with our brand strategy,” commented Hyundai Motor Europe Vice President Werner H. Frey.

"Traffic never really fell off for us in March, and the last weekend was our best since last August," Hyundai Motor America sales chief Bob Cosmai said.

Hyundai Motor Europe GmbH (HME) reported March sales of 30,046 units—an all-time monthly high despite the weak car market. In year-over-year terms, this figure represents a remarkable 22 percent improvement over the same month last year.

With almost 70 thousand units sold in Europe in the first three months of this year, the overall European sales figure shows an increase of 6 percent compared to last year’s first quarter, continuing the positive business trend set by HME’s success in 2002.

Contributing to the steady growth of Hyundai in Europe are models such as the Getz and Matrix — Hyundai’s volume models for Europe — in addition to the unique-designed Santa Fe, a top-performer since its introduction.

North America
Hyundai Motor America’s March sales jumped 20.3 percent year-on-year in March and 39 percent over the previous month.

Sales of the Santa Fe reached 11,293 units last month while the Elantra, Sonata, Tiburon and XG350 finished ahead of last March’s sales levels, helped by America’s best warranty.

HMA closed the first quarter with sales of 92,978 units compared to first quarter 2002 results of 87,434 units.

In Canada, where Hyundai ranks as the sixth best selling brand, Hyundai Auto Canada Inc. reported March sales of 5,603 units—the best March performance to date. Hyundai trails Toyota and Honda to rank as the number three importer.

Worldwide, Hyundai shipped 280,170 units during the first three months of this year, marking a 16.4 percent improvement over last year’s first quarter.

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