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Korean Automakers Rebound in Domestic Sales and Exports at Same Time
Picking-up Auto Industry
Korean Automakers Rebound in Domestic Sales and Exports at Same Time
  • By Jung Min-hee
  • December 2, 2016, 02:15
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The five domestic automakers (Hyundai, Kia, Korea GM, Renault Samsung and Ssangyong) sold 868,458 units at home and abroad in November, a 5.56 percent increase over the same period last year.
The five domestic automakers (Hyundai, Kia, Korea GM, Renault Samsung and Ssangyong) sold 868,458 units at home and abroad in November, a 5.56 percent increase over the same period last year.

 

According to the automobile industry on December 1, five domestic automakers (Hyundai, Kia, Korea GM, Renault Samsung and Ssangyong) sold 868,458 units at home and abroad last month. This is a 5.56 percent increase over the same period last year (822,753 units).

In particular, in the Korean market, sales totaled 14,414 units, up 2.19% from the same period last year. Considering that the individual consumption tax cuts were applied in November last year, the significant increase is more meaningful. It is said that the growth was led by new models of Renault Samsung and GM Korea.

Renault Samsung’s SM6 sold a total of 5,300 units last month. The SM6 sold a total of 50,904 units by November, reaching its annual target of 50,000 units in nine months before the start of December. The success of new models, the SM6 and the QM6 empowered Renault Samsung to achieve total sales of 90,703 units this year until November, getting closer to its domestic sales target of 100,000 units set at the beginning of this year.

GM Korea also chalked up the highest monthly sales in its history in November thanks to strong sales of the Malibu. Last month, the New Malibu sold 4,149 units. This is a 389.3% increase year on year. On the strength of its popularity, the Malibu exceeded 30,000 cumulative sales in the domestic market this year. Sales of the Spark (6533 units) and the Trax (2505 units) grew by 46.1% and 124.5%, respectively, contributing to an increase in GM Korea’s total sales.

Ssangyong Motor also recorded the highest sales in the second half of a year, selling 9,475 units in November, up 4.6% year-on-year. In particular, industry experts evaluate that the record is attributable to the fact that sales of major brands such as the Tivoli (23.2%) and the Korando Sport (25.1%) grew more than 20% compared with the same month of the previous year.

On the other hand, Hyundai and Kia's domestic sales fell 13.1% and 2.2% year on year, respectively. Kia Motors said the effects of its promotional activities such as “Kia Sale Festa” minimized the year on year decrease

Last month, five Korean automakers sold a total of 723,444 units overseas. This is a 6.26 percent increase from the same period of last year.

Hyundai Motor sold 415,420 units abroad last month, up 7.3 percent year on year. Kia Motors also sold 251,580 units, up 8.1 percent from the same period last year. Both companies said that their exports swelled compared to the same period of last year thanks to the normalization of supplies and elimination of backlogs due to the end of labor strikes at their domestic factories.

Ssangyong Motor has maintained sales of more than 4,000 units for the eighth consecutive month since April. Last month, the sales growth in emerging markets such as Iran continued to its sales growth, resulting in a 26.8 percent year on year increase.

On the other hand, export volumes of Renault Samsung and GM Korea fell by 9.6 percent and 12.7 percent, respectively. “Our exports fell 12.7% year on year in November but cumulative exports reached 127.769 units, up 15.1 percent from the same period of last year,” said a representative of Renault Samsung.