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Hyundai Motor July sales plunge 41 percent on strike
Singapore, Aug 01: South Korean automaker, Hyundai Motor Co., said its July sales plunged 41 percent to 97,940 units because a month-long strike depleted inventories.
Singapore, Aug 01: South Korean automaker, Hyundai Motor Co., said its July sales plunged 41 percent to 97,940 units because a month-long strike depleted inventories.
Domestic sales of its Sonata sedans, Santa FE sport utility and other vehicles dropped 42 percent to 40,208 units in July, the lowest monthly figure since February 1999, the company said in a statement.
Exports plunged 40 percent to 57,732 units, which includes sales from its plants in India, China and Turkey.
Hyundai Motor's union workers have been refusing to work overtime since June 20 and holding sporadic walkouts since June 25, causing the automaker to lose production of more than 99,210 Sonata Sedans, Santa FE sport-utility vehicles and other models worth 1.3 trillion won (USD 1.1 billion). The automaker sold a total of 1.07 million vehicles in the first seven months of this year, 3.4 percent more than a year earlier. Of the total, domestic sales fell 16 percent to 383,122 units, while exports gained 19 percent to 685,499 units. Bureau Report
Exports plunged 40 percent to 57,732 units, which includes sales from its plants in India, China and Turkey.
Hyundai Motor's union workers have been refusing to work overtime since June 20 and holding sporadic walkouts since June 25, causing the automaker to lose production of more than 99,210 Sonata Sedans, Santa FE sport-utility vehicles and other models worth 1.3 trillion won (USD 1.1 billion). The automaker sold a total of 1.07 million vehicles in the first seven months of this year, 3.4 percent more than a year earlier. Of the total, domestic sales fell 16 percent to 383,122 units, while exports gained 19 percent to 685,499 units. Bureau Report