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June 6, 2017

Hyundai-Kia sales in China plunge 65% in May

Hyundai and Kia’s vehicle sales in China are reported to have dropped by a staggering 65% year-on- year in May, as a political row surrounding the deployment of the THAAD US missile shield system continues to hurt South Korean companies in China.

Hyundai and Kia’s vehicle sales in China are reported to have dropped a staggering 65% year-on- year in May, as a political row surrounding the deployment of the THAAD US missile shield system continues to hurt South Korean companies in China.

According to company sources, Hyundai Motor sales are said to have fallen by 65% to 35,100 units last month, while Kia Motors sales declined at a similar rate to 17,385 units.

Combined, the two brands saw sales volumes dropped by 65% to 52,485 units.

China is opposed to the deployment of THAAD in South Korea, claiming its powerful radar system could be used against it.

In the first five months of the year, Hyundai and Kia’s combined sales in China were down by 43% at 376,895 units compared with the same period last year.

Other South Korean companies have been affected by the political tensions between the two countries, with Lotte’s sales in China down sharply as buyers boycotted its department stores.

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