Hyundai Motor Reports First Quarter Sales

- Global sales fall 13.5% Y-o-Y to 616,325 units
- Korea domestic sales decline 18.3%, overseas sales fall 12.2%

(Seoul, Korea, April 1, 2009) Hyundai Motor Company, South Korea’s largest automaker, posted a 13.5 percent fall in first quarter global sales from a year earlier as demand for cars continues to remain weak amid a worldwide economic slump.

Domestic sales fell 18.3 percent to 129,358 units in the first three months of the year Y-o-Y as demand for all models declined, especially SUVs and mid- and large-sized vehicles. Sales of SUVs overall fell a total of 24.1 percent Y-o-Y, including a 30.6 percent and 41.2 percent decline in Santa Fe and Veracruz sales, respectively. Sales of sedans overall also fell 20.2 percent Y-o-Y. Demand continues to fall as consumer sentiment shows no signs of recovery.

Overseas sales fell 12.2 percent to 486,967 units in the first quarter. Exports from Korea fell 34.3 percent to 187,086 units in the quarter, while sales from overseas plants rose 11.2 percent to 299,881 units. Demand in advanced markets such as the U.S. and Europe continues to fall, while demand in markets that previously showed strong growth, such as Russia, the Middle East, Africa and Central & Latin America, also fell, as the worldwide economic crisis spreads.

Hyundai Motor posted an increase in overseas’ plant sales thanks to its region-specific models, despite a fall in auto demand in the respective markets. Hyundai’s Yuedong model in China and India’s i20 model continues to lead sales, while the opening of the Czech plant is also contributing to sales.

For the month of March, Hyundai sold a total of 233,443 units globally, a 9.8 percent decline Y-o-Y. This includes 49,114 units in Korea and 184,329 units overseas (exports + overseas’ plants).

Hyundai will boost supplies of small, fuel-efficient models and increase localized marketing activities to overcome the slump in demand