Tuesday, September 3rd, 2013
SEOUL, KOREA- Hyundai Motor saw its domestic sales fall by 20 percent in August 2013, compared to a month ago, with its exports falling by 9 percent. Hyundai Motor’s disappointing results are blamed mainly on the partial strike that its labor union staged to get the upper hand in the wage negotiations with the management.According to industry sources on September 2, Hyundai Motor sold 47,680 units in domestic market last month, down 19.6 percent from the previous month’s 59,302 units, and the lowest since February 2013.
Its exports also fell 9 percent to 85,588 units from 94,058 units a month ago. The company blamed the decline in domestic sales and exports on the partial strike of its labor union which caused a delay in production.
Due to the sluggish performance of Hyundai Motor, the combined domestic sales of Korea’s five major car makers slid to 110,338 units last year, down 11.7 percent from a month ago.
