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Hyundai drops 39% as virus crimps demand

Trade News by Trade News
May 1, 2020
in Personal Finance
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Hyundai drops 39% as virus crimps demand
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U.S. sales at Hyundai fell 39 percent in April, previewing what is expected to be a low point for automakers as the market reels from closed showrooms and government restrictions on household and business activity because of the COVID-19 outbreak.

Hyundai, one of the hotter brands in recent quarters because of an expanded crossover lineup, said light-truck deliveries fell 13 percent to 21,305 while car demand skidded 59 percent to 12,663 last month.

Overall, retail sales declined 28 percent and fleet shipments slumped 74 percent, Hyundai said.

While the pandemic significantly disrupted April demand across the industry, Hyundai executives credited the “ingenuity of our dealers” and “robust customer assistance programs” for helping to mitigate the impact.

“Sales varied significantly across regions,” said Randy Parker, vice president of national sales for Hyundai Motor America. “We focused on supporting sales in areas that transitioned from showroom retail to digital and…



Source Autonews.com

Tags: crimpsdemanddropsHyundaiVirus
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