Hyundai’s March sales fall 17% due to chip shortage

According to the latest report, data released by Hyundai Motor showed that due to factors such as continued chip shortages, sales of their cars fell sharply again in March, and sales in the first quarter of this year also declined significantly.

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Moreover, according to data released by Hyundai on its official website on Friday, they sold a total of 313,900 vehicles globally in March, significantly less than the 378,200 vehicles sold in the same period last year, a 17% year-on-year decline.

Specifically, Hyundai Motor sold 52,900 units in the Korean market in March, down from 73,800 units in the same period last year, down 28.4% year-on-year; and sold 261,000 units in overseas markets, also down from 304,400 units in the same period last year, down from a year earlier 14.3%.

Although the year-on-year decline was as high as 17%, Hyundai’s global sales in March actually increased slightly from the previous month. The data released on their official website shows that they sold a total of 305,300 vehicles worldwide in February, compared with 313,900 in March, an increase of more than 8,000 vehicles.

As for the reason for the sharp year-on-year decline in sales in March, Hyundai Motor said on its official website that it was affected by many factors, including continued parts shortages and the epidemic, and fluctuations in raw material costs also affected their sales.

In February this year, the sales of Hyundai Motors had increased year-on-year, and the sales in the Korean market and overseas markets had increased to a certain extent. However, affected by the sharp decline in March, the sales of Hyundai Motors in the first quarter of this year also declined significantly year-on-year. Nearly 1 million in the same period last year fell to 901,900, down 9.8% year-on-year.

(via)