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Hyundai Motor's exports halved due to the aftermath of holidays and strikes
In August, car production, exports, and domestic sales all decreased significantly. This is attributed to a reduction in operating days due to summer holidays and strikes by some companies.
According to the 'August Automotive Industry Trends' announced by the Ministry of Trade, Industry and Energy on the 17th, a total of 206,064 cars were produced last month, a decrease of 35.8% compared to the same month last year.
An official from the Ministry of Trade, Industry and Energy stated, "This year, the industry's summer vacation period was concentrated in early August, leading to fewer operating days, and production disruptions due to strikes by some companies are analyzed as major influences."
Cars sold overseas also decreased by 26.9% compared to the same month last year, recording 146,499 units. In particular, Hyundai Motor's exports plummeted by 48.9% to 47,014 units due to overlapping union strikes and summer holidays.
However, in August, eco-friendly car exports decreased by 16.4% to 58,000 units, a relatively smaller decline.
The value of car exports in August recorded 3.85 billion dollars, a decrease of 29.8%. It decreased in all regions, including major markets such as North America (-28.2%) and the European Union (-16.8%), as well as Asia (-41.9%) and the Middle East (-23.6%).
Domestic sales totaled 109,920 units. This is a decrease of 20.8% compared to the same month last year. Among these, 69,000 eco-friendly cars were sold, accounting for 62.6% of total domestic sales.
The top-selling domestic models in August were Model Y (9,638 units), Sorento (6,397 units), Grandeur (5,931 units), Carnival (4,186 units), and Sportage (3,874 units), in that order.
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