Hyundai, Kia China sales dip below 10,000

Hyundai Motor and Kia's combined retail sales in China fell below 10,000 vehicles for the first time this year in September amid sluggish demand, industry data showed Sunday.

Hyundai Motor's sales plunged 47 percent on year to around 4,000 units last month, while Kia's dropped 31 percent to 5,000, according to a Hana Securities report based on China Passenger Car Association data.

Their combined sales fell 39 percent to approximately 9,000 units, with their market share slipping to just 0.6 percent from more than 10 percent in the mid-2010s.

The automakers have struggled to revive sales despite introducing EVs tailored to the Chinese market.

Hyundai's China-specific electric SUV Elexio sold just 251 units in the first nine months of this year, compared to 1,216 in the final three months of last year.

The Ioniq V, Hyundai's first China-specific model under its Ioniq brand, sold 558 units in September.

Yonhap