Hyundai, Kia’s January sales down on fewer working days from extended holiday

Seoul: Hyundai Motor said on Monday its monthly sales for January dropped 2.3 per cent from a year earlier due to a reduced number of business days.

The automaker sold 310,399 vehicles last month, down from 317,823 units the same month last year, the company said in a press release.

Domestic sales fell 7.5 per cent on-year to 46,054 units, while overseas sales shed 1.4 per cent to 264,345 units.

Hyundai Motor attributed the reduction in sales to the reduced business days from last month’s extended Lunar New Year holiday, reports Yonhap news agency.

At home, the bestselling model was the Grandeur sedan, selling 5,711 units. The Sante Fe was the most popular sport utility vehicle (SUV) domestically, selling 4,819 units.

The automaker said it plans to respond to the anticipated global business uncertainties by engaging in proactive risk management, and strengthening its sales and production systems.

Kia, South Korea’s second-largest automaker, said on Monday its monthly sales for January fell 2.4 per cent due to the reduced number of working days amid the Lunar New Year holiday.

Kia, an affiliate of local industry leader Hyundai Motor Co., sold 239,571 vehicles last month, down from 245,586 units a year ago, the company said in a press release.

Domestic sales fell 13.9 per cent on-year to 38,403 units, while overseas sales gained 0.1 percent to 200,993 units.

Kia said its domestic sales declined due to the fewer business days caused by the extended Lunar New Year holiday.

“Domestic sales temporarily declined in January due to fewer business days during the Lunar New Year holiday, but sales growth in overseas markets has continued,” a company official said.

The company said it plans to expand its lineup with various new models to sustain its global sales growth.

By vehicle model, the Sportage sport utility vehicle (SUV) was the bestselling model in both domestic and overseas markets last month, with 43,473 units sold. It was followed by the Seltos with 22,198 units and the Sorento with 21,421 units.

–IANS