SEOUL — Hyundai Motor Co., South Korea's largest automobile manufacturer, disclosed a 9.6 percent surge in sales for the month of October compared to the same period last year, attributing the growth to robust consumer demand for its SUVs and premium Genesis brand vehicles.
According to Yonhap News Agency, the company’s statement, Hyundai Motor managed to sell a total of 377,986 vehicles in October, experiencing a notable rise from 344,910 units sold in the corresponding month of the previous year. The boost in sales is credited to the increased popularity and demand for the company’s SUV models as well as vehicles from its luxury Genesis brand.
The data revealed a 5.9 percent increase in domestic sales, climbing to 64,328 units from 60,736 during the same period last year. Meanwhile, overseas sales saw a more pronounced increase of 10 percent, reaching 313,658 units, up from 284,174 units in October of the preceding year.
In a strategic move to bolster its product mix and continue its growth trajectory, Hyundai plans to launch upgraded versions of its GV80 SUV and the new GV80 Coupe in global markets. Furthermore, the company is preparing for the next year’s introduction of the high-performance Ioniq 5 N model, following its domestic launch in September. The N models are being marketed with an emphasis on delivering full performance capabilities for everyday driving.
Looking at the sales data from January to October, Hyundai Motor has experienced a 7.9 percent increase in sales, selling 3,505,024 automobiles, up from 3,248,961 units during the same ten-month period in the previous year. Domestic sales demonstrated a significant jump of 13 percent, reaching 627,847 autos from 557,571 units a year earlier, while overseas sales exhibited a 6.9 percent increase, amounting to 2,877,177 units compared to 2,691,390 units in the same period last year.