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Hyundai Motor and Kia Show Divergent August Sales Results
Consumer Durables · Motor Vehicles · yonhap_finance · 2026-09-01
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Shinyoung Securities maintains Kia as its top pick in the auto sector as Kia hits record August sales while Hyundai Motor faces a decline.
What Happened
Divergent Sales: August sales results for South Korea's top automakers showed a sharp contrast. While Hyundai Motor recorded its lowest August global wholesale sales since 2017 due to strikes and market weakness, Kia achieved its highest-ever August sales volume.
Hyundai's Struggles: Hyundai Motor's global wholesale sales fell 14% year-on-year. Factors such as weak Genesis sales, fewer working days due to the Chuseok holiday, and unfavorable exchange rates have led to concerns about a potential downward revision of its Q3 operating profit forecast.
Kia's Success: Kia grew 5% year-on-year, driven by its strengthened EV and hybrid lineup in Europe and North America. Domestic EV sales surged 69%, accounting for 27% of its total domestic sales, demonstrating a robust performance trend.
Outlook: Shinyoung Securities maintains Kia as its top pick in the automotive sector. The firm expects Hyundai Motor's wholesale sales to recover no earlier than October, suggesting that the performance gap between the two companies may persist in the near term.