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Strong Crossover Demand Upsurges Monthly Sales Of Hyundai By 1.5%

Hyundai has achieved a 1.5% hike in sales for the month of June, and the major reason behind the sales spur is sturdy crossover demand. The South Korean-based company stated that three crossovers—Tucson, Santa Fe, and Kona—brought a double-digit jump in sales volume, pushing the brand towards consecutive monthly hike for eleven times.

Not only the crossovers’ but also the light trucked sales of Hyundai mounted by 10% in the last month.

Hyundai, akin to other automakers, keep on positioning weaker car sales, with the Elantra and Sonata, both following the downward trend for the month and year.

Majority of automakers are almost set to release the sales and revenue-generation report for June 2019. Total sales of the light vehicles in the US are predicted to plummet as demand for the same continues to decline across the market.

The US-based sales cut down by 0.3% in May and the total sale decline noted was 2.4% during the first five months. According to some analysts, the sales would grow in the second half of the year, owing to the launch of fresh and revamped light trucks. Moreover, a possible cut on the interest rate from the Federal Reserve might facilitate the sales hike.

Other factors influencing the sales hike include steady economic growth, strong consumer assurance, and moderately low gas prices continue to prop up demand for new and upcoming light-vehicles.

On a similar note, German-based automaker Volkswagen is targeting China as a primary market to acquire a significant share of the EV market. The company’s CEO Herbert Diess spoke in a conference that by 2035, 50% of the total sales of Volkswagen automobiles in China would be electric vehicles.

CEO said that Volkswagen has been expecting to propose 14 new EVs in China this year. By 2028, over half of the automaker’s planned 22 Million EVs would be manufactured in China.

Shondra Barnes
Shondra Barnes Subscriber
Editor In Chief At Daily News Magazine

Shondra had acquired considerable experience in writing and editing publications before recruited by Daily News Magazine news portal as Editorial Manager. Her key task is to conduct effective business reviews based on the most recent business strategies. Due to her stronghold and understanding over finance, marketing, business, and trade-related topics, she is known as a business counselor among the staff. Her way of explaining business-related topics, verbally & in written form, is quite impressive. She pursued her post graduation in Finance from a UK-based university.

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