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THE INVESTOR
February 16, 2019
Big Reunion

Automobiles

Carmakers in Korea show mixed sales performance in Jan.

  • PUBLISHED :February 01, 2019 - 16:22
  • UPDATED :February 01, 2019 - 16:22
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Hyundai Motor said on Feb. 1 its sales fell 7.7 percent last month from a year earlier on weak overseas demand.

The carmaker sold 313,313 vehicles in January, down from 339,374 units a year earlier, the company said in a statement.

Domestic sales shot up 18 percent to 60,440 units last month from 51,426 a year ago. But overseas sales dropped 12 percent to 252,873 from 287,948 during the same period, the carmaker said. 

Sales declined as the ongoing trade war between the United States and China drove down automobile demand in the world‘s two biggest automobile markets, the carmaker said.

Its smaller affiliate Kia Motors’ sales rose 1.2 percent last month from a year earlier on improved overseas demand for its vehicles.

Kia sold 208,908 vehicles in January, up from 206,348 units a year ago, helped by increased sales of the Sportage SUV, the company said in a statement.

Domestic sales fell 2.8 percent on-year to 38,010 units last month from 39,105. Overseas sales, on the other hand, climbed 2.2 percent to 170,898 from 167,243 over the same period, it said.

Renault Samsung Motors’ sales plunged 37 percent last month from a year earlier on weaker demand for its vehicles. It sold 13,693 vehicles in January, down from 21,847 units the previous year.

Domestic sales fell 19 percent to 5,174 units last month from 6,402 units a year ago. Exports also declined 45 percent to 8,519 autos from 15,445 during the same period, the statement said.

SsangYong Motor’s sales rose 7.7 percent last month from a year earlier on growing demand for sport utility vehicle models.

It sold 10,988 vehicles in January, up from 10,205 units a year earlier. Domestic sales jumped 15 percent to 8,787 units in January from 7,675 a year earlier. Exports rose 4.1 percent to 2,633 units from 2,530 during the same period.

GM Korea saw its sales fell 8.7 percent last month from a year earlier due to weak demand for its models.

It sold 38,705 vehicles in January, down from 42,401 units a year earlier, the company said in a statement.

Domestic sales plunged 36 percent to 5,053 units last month from 7,844 a year ago. Exports declined 2.6 percent to 33,652 from 34,557 during the same period, it said.
 
By Ram Garikipati and newswires (ram@heraldcorp.com)

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