Hyundai Motor`s Palisade flagship SUV. (image: Hyundai Motor)
SEOUL, May 20 (Korea Bizwire) — Hyundai Motor Co.’s sales of SUVs again exceeded those of sedans in the first quarter of the year amid rising global popularity of the vehicle type, according to company data on Monday.
Hyundai Motor, South Korea’s top automaker, posted 4.39 trillion won (US$3.67 billion) in SUV turnover in the January-March period, compared with 3.81 trillion won in passenger car sales.
In terms of volume, SUVs also surpassed sedans. Hyundai sold 184,588 SUVs in the three-month period, compared with 162,210 sedans.
Hyundai Motor said strong exports helped SUV sales overhaul those of passengers cars. The automaker’s SUV exports came to 125,264 units in the first quarter, compared with overseas shipments of 86,563 sedans.
It marks the second consecutive quarter that Hyundai Motor’s quarterly SUV sales have hovered above those of passenger cars in terms of both value and volume.
Hyundai Motor achieved the record for the first time in the fourth quarter of last year, when it sold 208,045 SUVs compared with 207,482 sedans. The value was 4.61 trillion won for SUVs and 4.54 trillion won for passenger cars.
Given the current pace, Hyundai Motor’s full-year SUV sales are expected to surpass those of passenger cars for the first time in its history.
Market watchers predicted Hyundai Motor’s SUV sales to gather further momentum down the road thanks to the high popularity of its flagship Palisade and planned new model launches.
(Yonhap)
