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Seoul-based automakers' global sales fall 1.2 pct in January

All News 17:28 February 01, 2017

SEOUL, Feb. 1 (Yonhap) -- Global sales of cars produced by five South Korea-based automakers shrank slightly from a year earlier in January due to a decline in overseas sales and a slump in domestic sales, data released by the carmakers showed Wednesday.

The combined global sales of the five automakers came to 618,930 cars last month, down 1.2 percent from a year earlier, according to the data.

The January tally marks a decline for two consecutive months on a year-on-year basis. In December, the automakers' sales also slipped 1.3 percent on-year.

Led by Hyundai Motor Co., the five carmakers sold a combined 106,210 cars in the domestic market last month, down 0.1 percent from 106,281 units a year earlier.

Their overseas sales also retreated 1.4 percent on-year to 512,720 units last month, the data showed.

The five carmakers include Kia Motors Corp., the country's No. 2 automaker and an affiliate of Hyundai Motor. The rest are GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., Ssangyong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., and Renault Samsung Motors Co., the local unit of French automaker Renault S.A.

Local industry leader Hyundai Motor saw its global sales rise 1.3 percent on-year to reach 342,607 units last month.

Its domestic sales plunged 9.5 percent on-year to 45,100 units last month due to shortened work days stemming from the Lunar New Year holidays that fell at the end of last month and increased competition with rivals here.

However, its overseas sales rose 3.1 percent to 297,507 units over the cited period.

No. 2 player Kia Motors suffered on-year sales drops both at home and abroad in January due to aged models and lost production from the holidays.

Its sales at home totaled 35,012 cars for the month, down 9.1 percent from the same month last year, while its overseas sales came to 163,793 cars, down 6.5 percent from a year earlier. Kia's global sales in January fell 7 percent on-year to 198,805 units.

Renault Samsung Motors sold 20,256 cars in January, up 34.8 percent from the same month last year, pushed by strong sales at home.

Its domestic sales reached 7,440 units last month, 254.1 percent higher than January of last year despite production days lessened by the holidays.

Exports fell 0.8 percent to 12,816 cars, it added.

GM Korea sold 46,842 cars last month, 4.8 percent less than a year ago although its local sales increased by some 25 percent.

Domestic sales hit 11,643 units in January, but exports fell 11.8 percent to 35,199 cars.

Ssangyong Motor's January sales increased 3.4 percent on-year to 10,420 cars on strong domestic sales, its data showed.

Domestic sales accounted for 7,015 units, up 6.8 percent, and exports 3,405, down 3 percent from same month last year.

The company said the overall sales increase came despite negative factors such as less number of working days from the Lunar New Year holiday and the end of the grand sale period.

Tivoli models continued on their popularity streak at home, selling 3,851 units, an increase of 19.5 percent on-year.

Seoul-based automakers' global sales fall 1.2 pct in January - 1


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