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Hyundai Motor March Sales Rise - Update

South Korean automaker Hyundai Motor Co., Ltd. (HYUD.L,HYMLF.PK) Monday reported a 17.9 percent growth in total sales for the month of March 2012, helped by strong overseas sales.

Total sales during the month increased to 382,659 units from 324,473 units in the previous year. Sales increased 6 percent over the month of February.

Overseas sales increased 24.4 percent to 326,637 units from 262,541 units a year ago and sales grew 6.3 percent from the previous month. Domestic sales declined 9.5 percent year-over-year to 56,022 units, while sales improved 4.4 percent from the preceding month.

Year-to-date, total sales increased 16.4 percent to about 1.07 million units, with 21.6 percent increase in overseas sales and a 7.1 percent drop in domestic sales.

In January end, Hyundai Motor reported a 38 percent increase in profit for the fourth quarter, helped by higher overseas sales.

Hyundai is currently trading at 240,000, up 3 percent, on the Kospi on a volume of 732 thousand shares.

by RTTNews Staff Writer

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