Business

Component shortages lead to lower Hyundai car sales: TC Group

Sales of Hyundai cars in June fell 34% from the previous month to 4,278, Thanh Cong (TC) Group said on July 12, blaming the decline on component shortages.
Component shortages lead to lower Hyundai car sales: TC Group ảnh 1Hyundai car sales drop 34% month on month in June. (Photo: Bloomberg)
Hanoi (VNA) – Sales of Hyundai cars in June fell 34% from the previous month to 4,278, Thanh Cong (TC) Group said on July 12, blaming the decline on component shortages.

Hyundai Accent recorded the best sales among Hyundai cars at 1,086, but the figure was still down 40.5%. It was followed by Hyundai Creta (830, down 14.8%) and Hyundai Tucson (479, down 26.2%), according to the assembler of Hyundai vehicles in Vietnam.

It noted all Hyundai models in the country have suffered from component shortages, adding the main reason is the semiconductor crisis and chip shortages around the world have yet to be addressed.

TC Group also pointed to the impacts of the COVID-19 pandemic and political uncertainties in some regions.

That’s why the Hyundai Thanh Cong factory in Ninh Binh province has met just a small part of buyers’ demand, it said.

In the first half of 2022, 36,397 Hyundai automobiles were sold, up 6.5% year on year.

The group expressed its belief that with the global economic and political situation gradually stabilised, Hyundai’s will be restored./.
VNA
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