Seoul: Hyundai Motor Co., South Korea's largest automaker, reported a 2.3 percent decrease in its sales for March compared to the same month last year, attributing the decline to the ongoing conflict in the Middle East, which has impacted the company's global sales.
According to Yonhap News Agency, Hyundai Motor sold 358,759 vehicles in March, down from 367,336 units sold during the same period last year. The automaker's domestic sales saw a 2 percent decline, with 61,850 units sold, while overseas sales decreased by 2.4 percent to 296,909 units.
A company official commented on the challenging business environment, citing the expanding geopolitical tensions as a negative influence on the company's performance. The regional tensions have contributed to the unfavorable conditions affecting Hyundai's sales figures.
In the first quarter of the year, from January to March, Hyundai's sales fell by 2.6 percent to 975,213 units, compared to 1 million units in the same period of the previous year. Domestic sales during this period dropped by 4.4 percent to 159,006 units, while overseas sales experienced a slight decrease of 2.2 percent, totaling 816,147 units.