Sluggish Domestic and Global Economy Takes Its Toll on May Sales

SEOUL, Korea, June 2, 2003 - Sputtering economies and weakening consumer confidence took their toll on Hyundai Motor Co.’s May sales: Korean sales tumbled by 9 percent from the previous month to 54,861 units while exports declined by 12.1 percent to 113,733 units.

Domestic passenger car sales reached 26,318 units, down 13.1 percent over the previous month while the Jan-May total of 141,303 units represents a decline of 7.8 percent y-o-y. Domestic SUV and MPV sales fared only slightly better as sales slipped by just 4.3 percent to reach 11,441 units during May. In cumulative terms, SUV and MPV sales touched 63,301 units after the first five months of this year, an 18.1 percent drop over the same period last year.

The Jan-May tally for domestic sales of passenger cars, SUVs and MPVs combined stood at 204,604 units, down 11.2 percent over Jan-May 2002.

Bus sales edged up 2.5 percent in May to reached 6,939 units while truck sales were down 9.9 percent to 10,163 units. Cumulative domestic sales of commercial vehicles stood at 91,340 units after the first five months of this year, down 15.6 percent
y-o-y.

May exports, including output at the company’s overseas plants, reached 113,733 units, down 12.1 percent over April. However, the Jan-May total export number was up 22.7 percent y-o-y to 523,222 units keeping Hyundai firmly on track to reach its export goals for the year.

Jan-May total sales (domestic and export) stood at 819,166 units, up 7 percent y-o-y.

Established in 1969, Hyundai Motor Co. has grown into the Hyundai Automotive Group which includes Kia Motors Corp. and over two dozen auto-related subsidiaries and affiliates. Employing nearly 50,000 people worldwide, Hyundai Motor posted US$21.94 billion in sales in 2002. Hyundai motor vehicles are sold in 166 countries through 4,504 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available on the Internet at http://www.hyundai-motor.com

# # #