Korean automobile makers suffered slumping sales at home and abroad in July. Their performance in overseas markets worsened noticeably due to a slowdown in global economic growth and the deterioration of the global trade environment.
The five domestic automakers sold a total of 636,593 units in July, a 1.69 percent decrease from a year earlier. Both domestic sales and exports were sluggish. They sold 131,135 units in the domestic market last month, down 1.98 percent from the previous year. Their exports totaled 505,746 units in the same period, a 1.56 percent drop from a year ago.
In exports, four companies excluding Hyundai Motor suffered a decline. Hyundai Motor's exports grew 2.0 percent on year to 292,182 units.
"As the global automobile market shrank, it affected sales of the Korean automobile makers," an industry analyst said. "Korean automakers will try to recover sales by launching new SUV models in the second half of the year."