Hyundai Motor Auto Sales in Japan Plunge in April

SEOUL, May 8 Asia Pulse - The Hyundai Motor Co. (KSE:05380) reported a sharp plunge in its vehicle sales in Japan last month, highlighting a challenge the South Korean carmaker is facing in Asia's second-largest auto market, industry figures showed Thursday.

Last month, Hyundai Motor sold only 22 cars in Japan, compared with 95 sold for the same month last year, according to the data by the Japan Automobile Importers Association.

In the first four months of this year, Hyundai Motor's sales in Japan nosedived 48 per cent from a year earlier to 170 units, the data showed.

The sharp decline in Japan sales came after Hyundai Motor has raised its prices in Japan by an average 3.9 per cent since early April, due to higher costs of raw materials, local media reports said.

Calls to Hyundai Motor's public relations team in Seoul weren't answered, but local media reported that the South Korean automaker was in the process of slashing its dealership networks and workforce in Japan due to the lackluster sales.

(Yonhap)

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