Hyundai CEO attributes South Korea sales slump to strike-driven production disruptions

  • Hyundai Motor attributed South Korean sales weakness to strike-related production disruptions, not vehicle competitiveness.
  • 49,022 vehicles sold in September, down 25.7% from 66,001 a year earlier.
  • Hyundai’s union staged 60 hours of walkouts; production halted for 120 hours in July-August.

Hyundai Motor president and chief executive Jose Munoz attributed the automaker’s recent weakness in South Korea to production disruptions from a union strike, rather than problems with its vehicles. Domestic sales fell 25.7% year-on-year to 49,022 vehicles in September, after dropping 41.1% to 34,333 units in August. January-September sales totaled 448,181 vehicles, down 16.3%. The union’s wage-negotiation dispute led to 60 hours of walkouts in July and August, while production stoppages totaled 120 hours and created an estimated shortfall of more than 55,000 vehicles. With the strike resolved, Munoz said production was back on track and expressed confidence in growth at home and in major markets, highlighting Hyundai’s performance in North America and Europe and the competitiveness of its battery electric vehicles.

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