Hyundai’s Sales Drop Again

Hyundai Motor Co.'s worldwide car sales slipped 1% to 408,000 units in June, marking the third consecutive month of year-on-year decline.

The company says a 5% hike in its domestic sales last month was more than offset by a 2% decline in deliveries for its vehicles overseas. It blames stronger competition, slower growth in emerging markets and currency fluctuations that favor its Japanese rivals.

Hyundai also has been caught with a shortage of SUV/crossover models in its lineup at a time when demand for such vehicles is surging in all major markets.