Hyundai's local car sales hit 10-month low

South Korea's Hyundai Motor Co posted a third successive monthly decline in domestic sales to a 10-month low on Thursday, hit by tough competition in the absence of new models, although the pace of decline moderated.

Hyundai, one of the top global performers during the financial crisis and sales slump that followed, said June domestic sales edged down 1.2 percent from May to 48,643 units, the lowest since August last year.

Overall sales, however, rose 4.6 percent to 312,388 vehicles, helped by strong performance in such markets as the United States, India and China.

Hyundai is the sole Korean automaker to post falling local sales for three months in a row in the face of new model launches by affiliate Kia Motors and aggressive marketing of imports by rivals such as Toyota Motor.

Some analysts predicted Hyundai's struggle in the local market would continue until it starts introducing new models from August.

Kia Motors, South Korea's second-largest carmaker, posted record monthly sales of 178,391 vehicles, spurred by solid domestic sales growth for its new K5 sedan and Sportage R SUV models.

Its first-half sales jumped 49 percent from a year ago to a record 990,261 units.