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Korean Automakers’ Sales Increased Slightly in November
Auto Trends
Korean Automakers’ Sales Increased Slightly in November
  • By Jack H. Park
  • December 2, 2014, 06:54
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The Hyundai Motor Company’s headquarters in Seoul is located in the Yangjae district, along with the offices of Kia Motors and the two companies’ parent corporation, Hyundai Motor Group. (Photo by Chu via Wikimedia Commons)
The Hyundai Motor Company’s headquarters in Seoul is located in the Yangjae district, along with the offices of Kia Motors and the two companies’ parent corporation, Hyundai Motor Group. (Photo by Chu via Wikimedia Commons)

 

Hyundai Motor Company, Kia Motors, Renault Samsung Motors, Ssangyong Motors, and GM Korea sold and exported a total of 782,055 cars last month to record a 2.2 percent growth from a year ago and 4.5 percent from the previous month.

GM Korea’s and Ssangyong’s monthly sales volumes decreased 22.7 percent and 28.3 percent due to less-than-expected overseas sales, respectively. However, Hyundai and Kia increased theirs 4.3 percent and 4.1 percent each year-on-year to 430,026 and 267,734 vehicles, with the labor strikes wrapped up and main models gaining popularity.

Renault Samsung posted a sales growth rate of 56.9 percent during the same period to sell 22,077 cars at home and abroad. The domestic sell-through and export volume skyrocketed by 61.6 percent and 54.0 percent, respectively. The company had recorded a 72.7 percent year-on-year growth in October as well, selling 21,980 cars.

In the domestic market, 126,943 cars were sold last month, which was 6.5 percent higher than a year ago. GM Korea and Ssangyong lost 12.5 percent and 11.2 percent, whereas Renault Samsung, Kia, and Hyundai showed growth of 61.6 percent, 14.2 percent, and 2.6 percent, respectively. In the overseas markets, the sell-through edged up by 1.4 percent to 646,111 cars. Ssangyong’s overseas sales volume fell by 43.4 percent due mainly to the Ukrainian crisis, while GM Korea’s shipment dropped by 25.5 percent.