Weak November Sales Data Points to Ongoing Weakness in Hyundai Motors' Biggest Markets
As expected, Hyundai Motor’s tepid operating performance continued into November, with weak China and North America sales volume offsetting the strong demand from other emerging markets (mainly Russia and Brazil). On a cumulative basis, Hyundai’s overall sales volume declined 6% year on year and trailed our forecast by roughly 9%. We trim our full-year net income and revenue forecasts by 17% and 8%, respectively, to KWR 4.6 trillion and KWR 90 trillion. Our fair value estimate of KWR 150,000 is ...Hyundai Motor is engaged in the manufacture and distribution of motor vehicles and parts. Co.'s passenger automobiles include Accent, Elantra, Sonata, Azera, Genesis, XG and Tiburon. Co.'s recreational vehicles include Santa FE, Tucson, Veracruz and Entourage. Co.'s commercial vehicles include H-1 Truck, Mighty II, 5 Ton Cargo, Tractor, Dump Truck, Aero Town, and Aero Queen.
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