Slow Sales
It has been found that the five South Korean automakers’ overseas and domestic sales volumes in April fell 11.3% and 5% from a year ago to 656,735 and 132,675 units, respectively.
Hyundai Motor Company’s domestic sales volume edged up by 1.5% from a year earlier to 60,361 units, led by the New Grandeur. Renault Samsung Motors hit a seven-year high for the month of April in the domestic market with its SM6 and QM6. The company sold 3,950 units of the SM6 last month.
On the contrary, Kia Motors’ domestic sales volume fell 10.3% year on year to 43,515. Likewise, GM Korea’s and Ssangyong Motor’s declined by 15.9% and 8.6%, respectively.
The five companies’ combined exports, in the meantime, decreased by 12.7% to 524,060 units. Specifically, Hyundai Motor Company’s monthly exports fell 13.9% to 303,864 whereas each of GM Korea and Renault Samsung Motors showed a year-on-year increase of 2.2%. Hyundai explained that emerging market demands fell for economic recessions.
Kia Motors’ monthly exports declined by 13.9% to 166,317 and Ssangyong Motor’s monthly exports dropped by 37.1% as the exports of its Tivolie and Rodius plummeted by 55% and 43.3% from a year ago, respectively.