Published on October 6th, 2012 | by Daniel Sherman Fernandez0
Hyundai September Global Sales Up 3.4% To 371,743 Units
Hyundai Motor has seen a 3.4% year-on-year jump in worldwide sales in September 2012 to 371,743 vehicles. Hyundai’s rebound was attributed to the termination of the strike actions at its South Korean factories as well as to the boosts to U.S. and China output. Hyundai’s sales figures in September, which were at their highest since June, could provide some reassurance that the South Korean car maker has placed its costliest strike ever behind it. Despite that, analysts are concerned about the impact of the strikes on the car maker’s third-quarter earnings, the results of which will be released late this month.
The strikes at the car maker have partly caused sales to fall 4.6 percent year-on-year in August, marking Hyundai’s first monthly sales decline in over three years. Hyundai’s South Korean plants account for producing around half of the car maker vehicles sold globally. The strikes at the plant prevented the car maker from building 82,088 cars worth around $1.5 billion. While some Japanese car makers are slashing their production in China, Hyundai increased its output capacity in the country in June 2012.