(MENAFN) South Korea's car maker Hyundai Motor registered a drop in its sales in China, declining by more than 30 percent last month from the previous year, caused by an ever growing competition from domestic rivals.
Hyundai sold 54,160 units in July, representing half of its April sales, which hit 100,000 units, and plunging from 80,169 vehicles sold in 2014, the car manufacturer said.
July's registered drop was mainly driven by a fierce competition which faced the South Korean automaker from Chinese local brands, attracting customers by presenting relatively cheap prices.
To overcome the situation, the top automaker made cuts for some of its models, which included Santa Fe and Tucson lowered by around 10 percent starting late July. Data showed sales of both models fell 39.5 percent and 22.4 percent.
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