The Korean automakers’ combined September sales in China fell 39 percent from a year earlier as demand remained weak despite new EV launches.
Hyundai Motor and Kia’s combined retail sales in China fell below 10,000 vehicles for the first time this year in September amid sluggish demand, industry data showed Sunday.
Hyundai Motor’s sales plunged 47 percent on year to around 4,000 units last month, while Kia’s dropped 31 percent to 5,000, according to a Hana Securities report based on China Passenger Car Association data.
Their combined sales fell 39 percent to approximately 9,000 units, with their market share slipping to just 0.6 percent from more than 10 percent in the mid-2010s.
The automakers have struggled to revive sales despite introducing EVs tailored to the Chinese market.
Hyundai’s China-specific electric SUV Elexio sold just 251 units in the first nine months of this year, compared to 1,216 in the final three months of last year.
The Ioniq V, Hyundai’s first China-specific model under its Ioniq brand, sold 558 units in September.
Yonhap
North Korean leader Kim Jong-un visited Dandong, crossed the newly opened Yalu River bridge and pledged to preserve Pyongyang’s ties with Beijing.
Kim Jong-un’s trip to Dandong recalls the run-up to past meetings with Donald Trump, though Seoul and Washington see little chance of a summit this year.
CJ CheilJedang aims to lift Hetbahn sales to 1.5 trillion won ($1.13 billion) by 2028 through protein-rich multigrain rice and a larger U.S. push.
North Korean leader Kim Jong-un visited Dandong, meeting senior Chinese officials and touring sites before returning home Saturday.
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