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02.03.2020

Hyundai sales hit by virus

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Sales arrived at 275,044 last month, 13% lower than a year earlier

Stocks impacted: Hyundai Motor Co (005380)

The South Korea's automaker reported its lowest monthly global sales in a decade in February as the coronavirus outbreak hurt demand. According to the preliminary data, sales arrived at 275,044 last month, 13% lower than a year earlier. South Korea has the most cases of infections outside the mainland, with the total over 4,000, affecting domestic companies, including Hyundai. Meanwhile, Hyundai Motor India Ltd (HMIL) reported a 10.3% decline in total sales at 48,910 units in February, while the company's exports declined 22% to 8,900 units as compared with 11,408 units a year ago. Following the report, Hundai shares are trading 1.3% lower on Monday.

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