Hyundai Motor Faces 4.1% Sales Decline in February Due to Production and Holiday Disruptions

SEOUL — Hyundai Motor Co., the leading automaker in South Korea, reported a 4.1 percent decrease in its vehicle sales for February, affected by a partial production halt and fewer working days. The company's sales dipped to 314,909 vehicles last month from 317,856 units in the same period a year earlier.

The company attributed the decline to temporary production suspensions at its Asan and Ulsan factories for facility upgrades, coupled with a reduction in working days due to the Lunar New Year holiday. Domestic sales experienced a sharp 26.7 percent decrease to 47,653 units, although exports saw a modest 1.5 percent increase to 267,256 units. Additionally, the delay in the announcement of electric vehicle (EV) subsidies compared to previous years significantly impacted EV sales. Notably, Hyundai Motor sold 7,776 sedans, including 3,963 Grandeur models, and 18,299 recreational vehicles, including 7,413 Santa Fe units, in the South Korean market.

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