SEOUL, Dec. 2 (UPI) – South Korean automaker Hyundai Motor said the global automotive chip shortage caused its monthly sales to plummet double-digit in November.
The Seoul-based company sold 312,602 cars last month, 17.1 percent fewer than a year ago, it said on Wednesday. On the world market, sales fell by 18.4 percent compared to the previous year.
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SEOUL, Dec. 2 (UPI) – South Korean automaker Hyundai Motor said the global shortage of automotive chips caused its monthly sales to plummet double-digit in November.
The Seoul-based company sold 312,602 cars last month, 17.1 percent fewer than a year ago, it said on Wednesday. On the world market, sales fell by 18.4 percent compared to the previous year.
In the United States, Hyundai Motor’s sales also decreased slightly. Sales there slumped by 12 percent in November.
In particular, Hyundai in the United States had more than five times the sales of its premium brand Genesis.
« We are due to the difficulties in securing automotive chips and COVID- 19 faced with many uncertainties. We will try to minimize this impact by adjusting the production schedule, « a Hyundai spokesman told UPI News Korea.
» Hyundai cannot solve the shortage of automotive chips because it is one global problem, the other big players like General Motors and Stellantis, with the exception of Tesla, « said automotive professor Kim Pil-soo of Daelim University in a telephone interview.
« Hyundai is unfortunate because its models have recently grown in popularity in international markets including the US and Europe, » he said.
Tesla’s auto sales rose 73 percent year over year in the third quarter as more drivers bought Model 3 and Model Y.
The semiconductor chip shortage is expected to cost the global auto industry $ 210 billion in sales this year.
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