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

Korean car makers, Hyundai and Kia both reported strong growth in sales in February 2021 from the previous year. Hyundai sold 300,284 units in February globally, up 6.7pc from the year prior. Kia Corp’s global sales were reported 210,177 units in February from 2019 levels.


Sales in Korea

Hyundai’s sales in Korea for February 2021 were reported at 52.102 units, up 32.6pc from the same month the previous year. Kia sold 37,583 units in Korea in February 2021, up 31pc from a year ago. Both companies had weaker sales in February 2020 because of production cuts during the COVID-19 pandemic.


Sales outside Korea

Hyundai sold 248,146 units overseas, up 2.5pc in February from the previous year. Sales in major regions like the Asia-Pacific, India, the Americas and Russia are improving gradually. Hyundai is focused on recovering global sales amid a global economic crisis. 

Kia Motors’ overseas sales are up 2.9pc to 172,594 units in February from the preceding year. Kia reported strong sales driven by the company’s robust SUV line-up and subcompact sedan. 


Strong sales reported by major car manufacturing companies would only instil confidence in upstream producers including steel, aluminium, zinc etc. that heavily depend on the auto sector’s consumption. 

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