Hyundai global sales jump 28 percent

Hyundai Motor, South Korea's top automaker, said on Friday its February global sales jumped 28 percent from a year earlier, fuelled by brisk overseas sales that offset a lull in sales at home. Hyundai's US sales hit a record monthly high in February, with sales jumping 18 percent in a market that was up 16 percent, driven by the Sonata, the Elantra and the Veloster.
Hyundai did not give a breakdown on sales figures on other markets. Despite the increase, the company still lags rivals like Nissan Motor and Honda Motor in US sales. Shares in Hyundai Motor closed up 1.85 percent in a wider market that was up 0.22 percent. "The South Korean auto market is stagnant and falling more than expected this year. But Hyundai's exports are growing strongly, offsetting sluggishness at the domestic market," Shin Chung-kwan, an analyst at KB Investment & Securities, said. Hyundai said its overseas sales rose 32.5 percent to 307,332 in February compared to 231,879 for the same month a year ago. Domestic sales were up slightly at 53,647 compared to 49,405 a year ago.