South Korean car maker Hyundai’s September sales dropped by 5.3pc to 360,762 units from the prior year.
In Korea, sales rose by 33.8pc to 67,080 units while sales outside Korea decreased by 11.2pc to 293,682 units in September from a year ago. The contraction in sales mainly due to the impact of the COVID-19 pandemic.
The company is launching new models to attract demand amid the pandemic while continuing to manage risks and minimise the business impacts of it.
Compared to August, Hyundai’s global sales improved by 13.2pc in September. In Jan-Sep period, company sold 2.64mn cars worldwide, down 19.4pc from the preceding year.
Sales of major car makers are improving globally renewing hopes of better demand for passenger cars, however, at a slow pace. With the improvement in sales, demand for metals used in production will also get a boost in the coming days as economies recover from the pandemic.