Hyundai's Global Sales Down By 7.6 Per Cent In August 2021

Hyundai Motor Company has announced its global sales for the month of August 2021. Compared to 318,700 units sold in August 2020, the automaker recorded a decline in sales of 7.6 per cent as it sold 294,591 units in the last month. On a month-on-month (MoM) basis, Hyundai recorded a de-growth of 6 per cent selling 313,451 units in August 2021. The automaker expects the sales could drop further for the rest of this year amid adverse business conditions caused by issues like global chip shortage and COVID-19 resurgence.

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The company sold 243,557 units outside of Korea, down 7.8 per cent from a year earlier.

Sales at Hyundai's home market, Korea, slipped by 6.5 per cent year on year to 51,034 units. Compared to 59,856 units sold in July 2021, the carmaker has registered a Month-on-Month (M-o-M) de-growth of over 14 per cent. The carmaker says the sales were mainly affected due to the COVID-19 resurgence and the disruption of the semiconductor supply chain.

For markets other than Korea, sales declined 7.8 per cent to 243,557 units compared with 264,110 units a year earlier. On a month-on-month (MoM) basis, the automaker witnessed a drop of 4 per cent selling 253,595 units in July 2021.

Last month, Hyundai has recorded a 2.3 per cent growth in India

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However, there was good news emerging out of India as the carmaker saw a growth of 2.3 per cent last month. The South Korean automaker sold 46,866 units last month compared to 45,809 units sold in the corresponding month in 2020.