Exports Jump 35% on Year
The Korea Automobile Manufacturers Association announced on March 18 that a total of 101,735 cars were sold in South Korea last month, up 23.9 percent from a year ago.
According to the association, Hyundai’s sales volume increased 32.6 percent in February this year, led by midsize and large SUVs such as Tucson and Palisade and large sedans such as Grandeur and Genesis. Kia’s volume increased 31 percent, led by its RVs including Carnival and Sorento.
GM Korea and Renault Samsung increased their volumes by 2.4 percent and 6.2 percent, respectively. On the other hand, SsangYong’s volume dropped by 47.6 percent with some auto parts manufacturers refusing to supply their products.
Last month, the RV sales volume showed a year-on-year increase of 45.3 percent with new models, such as Carnival and Tucson, making their debuts. The volume accounted for 55 percent of the monthly total. Although the domestic electric vehicle sales volume fell 13.3 percent year on year, the domestic hybrid car sales volume more than offset the decrease and the total green car sell-through doubled in one year to 12,455.
Last month, South Korea’s automobile exports increased 35 percent year on year to 161,886 units, thanks to a recovery in demand in the United States, Europe, etc. South Korea’s automobile production added up to 260,958 units, up 37.9 percent from a year earlier.