: Hyundais Nov sales fall 17% amid chip shortage #IndiaNEWS #Automobile South Koreas biggest carmaker Hyundai Motor saw sales fall 17 percent last month from a year earlier amid global chip shortages.

@IndiaNEWS

Posted in: #IndiaNEWS #Automobile

Hyundais Nov sales fall 17% amid chip shortage #IndiaNEWS #Automobile
South Koreas biggest carmaker Hyundai Motor saw sales fall 17 percent last month from a year earlier amid global chip shortages.



Hyundai Motor sold 3,12,602 vehicles in November, down from 3,77,193 units a year earlier, the company said in a statement.



Sales in South Korea declined 11 percent to 62,071 units from 70,035, as the lack of semiconductor parts continued to affect vehicle production and sales, it said.



Overseas sales dropped 18 percent to 250,531 from 307,158 amid the extended Covid-19 pandemic, reports the Yonhap news agency.



From January to November, Hyundais overall sales rose 5.4 percent to 3.55 million autos from 3.37 million units in the year-ago period.



To reflect chip supply shortages, Hyundai revised down its sales target to 4 million vehicles for the year from 4.16 million units announced early this year. Last year, it sold 3.74 million autos.



Recently, Hyundai Motor and affiliate Kia unveiled their electric concept SUVs at the Los Angeles Auto Show as they strengthen their all-electric portfolios in line with rival carmakers electrification push.



Hyundai and Kia debuted the large-sized Seven and flagship EV9 concept models built on Hyundai Motor Groups dedicated EV platform, called E-GMP, at the US motor show during a two-day media preview.



The carmakers are planning to gradually phase out combustion-engine cars in global markets as governments are adopting more aggressive policies to fight climate change.

Intraday stocks under 50 NSE India Twitter of India

Vote Up Vote Down

Login to post a comment!