Hyundai global car sales fall less than expected during Covid-19 crisis

Hyundai's global retail sales fell 33% in April-June with the biggest sale drop in the US, China, Europe and India 

An upgraded Ioniq from Hyundai

Hyundai Motor reported a smaller-than-expected drop in profit on high-margin domestic sales and said, while demand should pick up soon, the pace of recovery will be slow due to the impact of the coronavirus pandemic.

Hyundai, which together with sister company Kia Motors is the world’s fifth-largest carmaker, said weakness in both mature and developing economies means auto sales may only recover to 2019 levels around 2023.