Escaping from THADD Retaliation?
The Hyundai Motor Group announced on April 16 that its sales volume in China totaled 97,555 cars last month, up 35.4% from a year earlier.
Last year, the group’s sales volume in the market plummeted after South Korea and the United States decided to deploy a THAAD system in South Korea. Hyundai Motor Company’s monthly sales volume dropped from more than 100,000 units to 30,000 or so in April last year and Kia Motors’ dipped below 10,000. Their combined sales volume fell for 15 months in a row until February this year.
Last month, however, Kia Motors’ sales volume reached 30,548, up 90.85% from a year ago. That of the Pegas compact sedan more than doubled from 1,391 to 3,143 between February and March and those of New Forte and K2 skyrocketed from 189 to 2,001 and exceeded 8,000, respectively.
Hyundai Motor Company, in the meantime, increased its volume by 19.6% year on year to 67,007. Between February and March this year, those of Yuedong, Lingdong, All New Tucson, and Santa Fe rose from 518 to 1,293, from 9,831 to 18,620, from 3,924 to 10,053, and from 304 to 935, respectively.
Still, it cannot be said that the Hyundai Motor Group has completely recovered in the Chinese market. Before China’s THAAD retaliation, the group’s average monthly sales volume in the market had been around 200,000 units.