Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

South Korean carmakers Hyundai and Kia reported substantial global sales growth in April from the prior-year period, owing to a low base figure last year due to the COVID-19 pandemic in 2020.


Hyundai Motor Company sold 345,777 units in April globally, up by p106.2pc from the previous year. Kia Corporation’s global sales stood at 249,734 vehicles in April, up by 78pc from 2020 levels.


Hyundai states the steep jump in global sales could be attributed to continued recovery in consumer demand worldwide. 


Sales in Korea

Hyundai’s sales in Korea stood at 70,219 units, down 1.2pc from the same month the previous year. Sales in April dipped 4.9pc from March levels. In April, Kia Corporation sold 51,128 units in Korea, up 1.5pc from the prior year. 


South Korea’s fight with the pandemic had started to pay off since January after reaching record highs late last year. By March-end, however, cases began to climb again.  


Sales outside Korea

Hyundai sold 275,558 units overseas, up 185.1pc from April 2020. Robust demand in many global markets, including India, Russia, North America, and South America, where demand improved significantly in April, aiding overall sales.


Kia announced overseas sales were up 120.9pc to 198,606 units in April from the preceding year. Kia notes that the sales rise was aided by recovering global automotive demand, that has slowed down last year amid the COVID-19 outbreak. The carmaker stated April registered its second best-ever monthly sales in the US. 

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