Hyundai Motor reported a lofty 26% rise in November vehicle sales as customers in Europe, China and the United States snapped up low priced, compact models, Reuters reported, adding that analysts warned a stronger won, stubbornly weak local demand, soaring steel prices and uncertain prospects for the global economy had darkened the 2005 outlook.
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The report said the country’s five carmakers increased exports by 37.3% in November from a year earlier to a combined 350,506 units. Domestic sales fell 4.6% to 94,024 vehicles and overall car sales rose 25.6% to 444,530 units.
“So far, domestic automakers held out very well on the export front, but the overall picture for next year looks a bit murky now with a slew of uncertainties,” Song Sang-hoon, a Hyundai Securities analyst told Reuters. “It’s still too early to say for sure when there will be a turnaround in the domestic market.”
