Hyundai Announces Global Sales Results for the Month and First Nine Months Ended September 2014; Provides Production Guidance for the Remaining Months of the Year 2014
For the first nine months, the company's global sales stood at 3.6 million units, up 3.6% year on year. Year-to-date (YTD) global sales were split in domestic sales of 502,006 units (up 4.8% year on year) and overseas sales of 3.1 million, up 3.4% year on year. On the domestic front, sales were driven by passenger cars which sold 28,501 units, up 5% year on year while sales of sport utility vehicles (SUVs) declined 3.1% year on year to 8,634 units. Sales of commercial vehicles also edged up 4.5% year on year to 10,654 units.
The company provided production guidance for the remaining months of the year 2014. The company's monthly sales were driven by strong demand for its premium vehicles, including the new Sonata and Genesis. Sales of the Genesis have climbed to 27,596 units so far this year. At the same time, its steady sellers such as the Avante compact remained firm. The relatively lower impact on productivity this year during wage negotiations also helped this year. The partial strikes this year are estimated to have cost the company nearly 40,000 vehicles, or KRW900 billion in lost production. This contrasts with more than 50,000 units of lost output during wage negotiations last year. As with previous years, the company is expected to make up for the production losses in the remaining months of the year.