Hyundai Motor Co. Ltd. reportedly is planning to take total control of its Australian operations.

Local media reports predict a A$90 million ($59.5 million) buyout within the month.

The company now is represented by Hyundai Automotive Distributors Australia, a subsidiary of Singapore distributor Cycle & Carriage Co.

Hyundai's Australian sales have dropped from a peak of more than 50,000 units to last year’s 35,000.