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Biz News Korea(Eng)
Hyundai and Kia’s car sales in China sink 65% on year in May
- Collected
- 2017.06.06
- Distributed
- 2017.06.08
- Source
- Go Direct
Combined sales of the two Korean household car names in China sank 65.1 percent on year in May to stop at 52,485 units, extending similar heavy loss in April to 51,059 units and a 52.2 percent plunge to 72,032 units in March when state media encouraged consumer boycott against Korean brands in retaliation for Seoul going ahead with the plan of installing a powerful missile system in Korea that China feared to put the mainland under U.S. radar surveillance.
Sales of Hyundai Motor in China dropped 65 percent on year to 35,100 units last month and for Kia Motors down 65.3 percent to 17,385 units.
The two Korean carmakers’ combined sales in the first five months of this year fell 43.4 percent on year to 376,895 units.
Shipment to China made up 23.4 percent and 21.5 percent of total sales respectively of Hyundai Motor and Kia Motors last year, and the poor performance this year would likely dampen their income scoreboard.
By Woo Je-yoon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]