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Renault Samsung's Feb. sales plunge 40 pct on lower demand, reduced output

All News 15:35 March 02, 2020

SEOUL, March 2 (Yonhap) -- Renault Samsung Motors Corp. said Monday its sales plunged 40 percent last month from a year earlier due to a shortage of parts caused by the outbreak of the new coronavirus, which limited its output.

Renault Samsung sold 7,057 vehicles in January, down from 11,721 units the same month last year, the company said in a statement.

The company stopped the operation of its sole plant in Busan, 453 kilometers south of Seoul, for four working days in February, as its Chinese parts suppliers halted operations due to an extended Lunar New Year holiday aimed at stopping the spread of the virus outbreak there.

Domestic sales declined 25 percent to 3,673 units last month from 4,923 units a year ago. Exports nosedived 50 percent to 3,384 from 6,798 during the same period, the statement said.

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.

French carmaker Renault S.A. has an 80-percent stake in Renault Samsung.


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