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Renault Samsung's Jan. sales plunge 55 pct on lower demand

All News 15:10 February 03, 2020

SEOUL, Feb. 3 (Yonhap) -- Renault Samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., said Monday its sales plunged 55 percent last month from a year earlier on lower demand at home and abroad.

Renault Samsung sold 6,233 vehicles in January, down from 13,693 units the previous year, the company said in a statement.

Domestic sales declined 17 percent to 4,303 units last month from 5,174 units a year ago. Exports nose-dived 77 percent to 1,930 from 8,519 during the same period, the statement said.

For the whole of 2019, its sales plunged 34 percent to 90,591 autos from 137,208 in the year-ago period due to a lack of new models.

The automaker has been dogged by a series of labor disputes, which sharply cut output amid a sharp decline in sales.

The company's current lineup includes the SM3 compact, the all-electric SM3 Z.E. sedan, the QM3 small SUV, and the SM5, SM6 and SM7 sedans.

Renault S.A. has an 80 percent stake in Renault Samsung.


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