Hyundai Sept Sales Up 13.8 Pct Exports Lead Growth

SEOUL, Korea, Oct. 1, 2003 - Following sluggish August performance, Hyundai Motor Co.’s September sales jumped 13.8 percent to reach 170,996 units. Exports accounted for 122,455 units, improving 17.5 percent m-o-m while domestic sales edged up by 5.4 percent to reach 48,541 units.

Domestic passenger car sales improved by 7.9 percent to reach 22,702 units led by Sonata and Avante / Elantra which ruled as the country’s first and second best-selling models. Despite strong demand for Santa Fe, sales of SUVs and other lifestyle vehicles were down by 2 percent m-o-m to reach 10,555 units.

Domestic commercial vehicle sales also edged up to reach 15,284 units, a gain of 7.2 percent.

Export growth was in large part driven by strong demand for Santa Fe in North America and for the Getz supermini in Europe. Exports for the first three quarters of 2003 reached 911,935 units, a gain of 18.9 percent y-o-y.

As a result of the domestic economic slowdown this year, cumulative domestic sales for the first nine months were down 18 percent y-o-y to 477,733 units.

Combined domestic and export sales for the first three quarters reached 1,389,435 units, putting Hyundai 3 percent ahead of the same period last year.

Established in 1967, 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

# # #