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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Hyundai Motor Company    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
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U.S. auto sales in May encourage Detroit plan to rebuild inventories

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06/02/2020 | 01:03pm EDT
The 2020 Toyota Supra is unveiled during an event at the North American International Auto Show in Detroit, Michigan

By Ben Klayman

Several automakers on Tuesday reported stronger-than-expected May sales in the United States, and the Detroit automakers said they will work through their annual summer shutdowns to rebuild inventories as demand recovers from coronavirus shutdowns.

The U.S. auto sector has reopened assembly plants following the shutdown and automakers that reported May sales said they saw signs of recovery in consumer demand.

Toyota Motor Corp, said overall U.S. sales fell about 26% in May, but retail demand rebounded to 86% of levels in May 2019, exceeding the company's forecasts. Retail sales almost doubled from April to May, a spokesman said.

Hyundai Motor Co said overall U.S. sales in May fell 13%, but that was significantly better than the 33% industry decline Cox Automotive had forecast. Hyundai cited a 5% increase in retail sales.

No. 1 U.S. automaker General Motors Co said it will keep building vehicles at most of its U.S. plants "to meet strengthening customer demand," instead of taking a traditional two-week summer shutdown starting June 29, GM spokesman Jim Cain said.

"Our share has been increasing and we want to be able to carry that momentum through to the other side of the pandemic," he said.

Half of Ford Motor Co's eight U.S. assembly plants have reduced their shutdowns to one week. Others are shifting their breaks to later in the year.

GM and Ford no longer report monthly U.S. sales.

The University of Michigan's Surveys of Consumers, closely followed by the auto sector, showed that 64% of those polled in May said it was a good time to buy a car. That was up from 57% in April and the highest level since December. Those saying times were bad or the future was uncertain fell to 28% from 38% the prior month.

(Reporting by Ben Klayman in Detroit; Editing by David Gregorio)

Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY 1.17% 6.05 Delayed Quote.-34.95%
GENERAL MOTORS COMPANY 1.12% 25.24 Delayed Quote.-31.04%
HYUNDAI CORPORATION 2.58% 13900 End-of-day quote.-22.35%
HYUNDAI MOTOR COMPANY 0.20% 99200 End-of-day quote.-17.68%
LINE CORPORATION 1.83% 5570 End-of-day quote.4.11%
THE NEW HOME COMPANY INC. 0.63% 3.2 Delayed Quote.-31.33%
TOYOTA INDUSTRIES CORPORATION 0.53% 5700 End-of-day quote.-9.95%
TOYOTA MOTOR CORPORATION -0.24% 6761 End-of-day quote.-12.35%
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Financials
Sales 2020 100 972 B 84,2 B 84,2 B
Net income 2020 2 591 B 2,16 B 2,16 B
Net Debt 2020 56 667 B 47,3 B 47,3 B
P/E ratio 2020 9,61x
Yield 2020 3,99%
Capitalization 21 128 B 17 614 M 17 620 M
EV / Sales 2019
EV / Sales 2020 210x
Nbr of Employees -
Free-Float 71,0%
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Mean consensus BUY
Number of Analysts 26
Average target price 131 115,38 KRW
Last Close Price 99 200,00 KRW
Spread / Highest target 86,5%
Spread / Average Target 32,2%
Spread / Lowest Target -9,27%
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Managers
NameTitle
Mong-Koo Chung Chairman & Co-Chief Executive Officer
Won-Hui Lee Co-President, Co-CEO & Director
José Munoz Global Chief Operating Officer
Byeong-Cheol Choi Chief Financial Officer
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
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