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Thursday, July 03, 2008

Hyundai Motor Company: Doing well in abroad but poorly in South Korea

South Korean auto maker, Hyundai Motor Company (SEO: 005387) posted 11.4% rise in sales in June. So far, it is the company’s best monthly sales. Till now, Hyundai sold 1,481,152 units around the world. This is a 14% increase on overall sales on year-on-year basis. Though concerned about the rising fuel cost, the company is on its track of achieving 3 million sales target. High demand in emerging markets like China, India, Russia and the Middle East contributed to the sales growth.

In the USA, Hyundai Motor Company sold 50,033 units for the month of June. Compared to June 2007, the sales rose 1.3%. However, its overall sales decreased to 231,066 units from 236,595 units in 2007.

Interestingly, Hyundai did well in foreign market but it observed a sales drop in its domestic market. On June 1, 2008 the company announced that sales in South Korea decreased 14.6% in June. The company sold 48,301 units.

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