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01.06.2020

Hyundai Motor's sales down almost 40%

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The company’s stocks were up 2% on Monday despite a weak sales report

Stocks impacted: Hyundai Motor (005380)

South Korea's automaker said its provisional May sales fell 39% on year to 217,510 vehicles globally amid the continuing impact of COVID-19 that hits global demand further. At the same time, sales were up about 30% from 167,693 vehicles in April. Domestic sales rose 5% year-on-year, led by popular models such as the Grandeur sedan. At the same time, overseas sales fell 50% amid weak auto demand from slowing economic activities stemming from the coronavirus pandemic. Hyundai Motor’s sister company Kia Motors announced provisional May sales of 160,913 vehicles, down 33% from a year ago. The company’s stocks were up 2% on Monday despite a weak sales report.

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