Hyundai Motor's sales down almost 40%
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.
Make profit on it right now!