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

South Korean car manufacturers Hyundai Motor and Kia reported a double-digit increase in global sales in June compared to the prior year. Hyundai’s global sales rose to 354,409 units in June, up by 14.4pc from the prior year. Sister company Kia Corporation announced a 20.2pc jump in sales globally, with 253,592 units sold in June; while sales in South Korea dropped significantly from the prior year. 


Sales outside Korea 

Hyundai sold 286,002 units outside Korea, marking a jump of 26.5pc from the previous year, which had lower sales due to the COVID-19 pandemic. In 2021, demand remains robust, driving sales growth. Conditions in several markets like Europe, Russia, and South America have improved. 


Kia’s overseas sales accounted for a jump of 35.4pc from a year ago to 204,312 units. Sales improved with the company’s SUV models leading in the market. Kia’s press release states that the auto markets around the globe are improving from the slowdown induced by the pandemic.


Korea Sales

Hyundai’s Korean sales fell by 18.3pc to 68,407 units sold in June. Kia also recorded a drop in Korean sales, with 49,280 units sold, down by 17.9pc from June 2020. There has been an uptick in South Korea’s COVID-19 cases in June, which could have lowered sales. The country is also facing a spike in infections with the fast-spreading Delta variant. 

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