Hyundai Motor and Kia Motors said their combined sales in China fell by over 22% year on year to 122,486 units in January, according to preliminary data released by the companies.
Hyundai led the decline with a 27% drop to 75,236 units, while Kia’s sales fell by 13% to 47,250 units, driving down their respective global sales.
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Last month’s sharp decline may well be an early indication of broader market weakness in the world’s largest vehicle market.
The two carmakers reported a 4.9% decline in combined sales to 1,678,922 units in China last year.
