South Korean car makers Kia Motors and Hyundai Motor reported their sales figures for October. Kia Motor has reported a growth in global sales of 6pc while Hyundai’s sales fell by 4.2pc in October, compared to the prior year.
Kia’s global sales rose 6pc to 265,714 units in October from the preceding year. Kia expects strong sales momentum to sustain with expanded SUV line-up, including a newly released SUV in India.
Sales in Korea increased 1.8pc to 48,009 units and sales outside Korea has jumped 7pc to 217,705 units in October from the previous year.
October sales for Hyundai was reported at 385,947 units, down by 4.2pc from the prior year. Sales in Korea jumped 1.2pc to 65,669 units while sales outside Korea, declined by 5.2pc to 320,278 units in October, from 2019.
Hyundai’s global sales is up 6.7pc in October compared to the prior month. In January – October period, global sales for Hyundai stands at 3.6mn units, down 17.7pc from the previous year.
Both South Korean car makers are hoping to deliver a robust combined operating profit in Q4 after launching new models. Production recovered through September up 23.3pc to around 342,490 units in Korea according to Korea Automobile Manufacturers Association (KAMA).