Hyundai Motor's sales slump deepens beyond strike fallout

Hyundai Motor’s push to reverse its sales decline comes under a tougher test in the fourth quarter, as its long-time rivals and emerging players show greater resilience. The carmaker sold 49,022 vehicles in Korea last month, down 25.7 percent from a year earlier. The company attributed the decline largely to fewer operating days caused by the Chuseok holiday and pent-up demand ahead of its new strategic model launches. It also pointed to the lingering effects of production disruptions from the 111-day labor dispute that ended in August. But the scale of Hyundai’s local sales decline stands out, as Kia fared much better with a sales fall of 6.7 percent during the same period. The contrast is even sharper when looking at overall performance, with Hyundai Motor reporting a sales drop of 16 percent here and abroad. The carmaker also reported an overseas sales fall of 13.9 percent. Kia’s global sales rose 5.1 percent in September from the previous year, with overseas sales increasing 7.5 percent. The automaker also posted a record third-quarter sales figure of more than 846,000 vehicles.