Hyundai's global sales fall by 4.2% in October, Covid-19 factors still at play

Hyundai Motor Corporation fared reasonably well in its home market of South Korea but decline in sales in overseas market saw its overall performance in the month of October fall by 4.2% when compared to a year earlier. The car maker has stated that slowdown in economic activities owing to Covid-19 pandemic remains a challenge.

Hyundai sold a total of 320,278 units in markets outside of South Korea in the month of October. This was a 5.2% decline from a year earlier. The company informed that the automotive demand worldwide is being impacted by Covid-19 pandemic but that it remains focused on sales recovery. It also sought to once again highlight measures such as extending warranty period and launching new models online as ways of bolstering prospects. The impending launch of Genesis GV70 luxury SUV in the global market may also provide a shot in the arm.

In its home market though, the scenario is far less grim. Sales increased 1.2 percent year-over-year to 65,669 units with Hyundai's Grandeur sedan (sold as Azera in some other markets) topping the list. Elantra and Palisade SUV too have registered a strong showing while products under the Genesis luxury brand have kept pa