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Hyundai Motor America August Sales Decline 4% On Chip Supply Woes

Benzinga · 09/01/2021 12:44
  • Hyundai Motor Company's (OTC:HYMTFHyundai Motor America reported a 4% decline year-on-year in August sales to 56,200 units.
  • Hyundai Motor America's total car sales increased 8% Y/Y, with eco-friendly vehicles rising 245%.
  • Hyundai Motor America sold 51,950 retail units in August, a decline of 7%.
  • "After five months in a row of record-breaking sales, along with chip supply shortages, our inventory levels presented a challenge in August," said Randy Parker, SVP, National Sales, Hyundai Motor America.
  • The company has sold 531,835 units year-to-date, a 37% increase Y/Y.
  • Price Action: HYMTF shares are trading higher by 1.96% at $44.76 on the last check Wednesday.