Wednesday, September 18, 2019
Domestic, Foreign Sales of Five Domestic Carmakers Decreased 3.4% in January
Sluggish Performance
Domestic, Foreign Sales of Five Domestic Carmakers Decreased 3.4% in January
  • By Cho Jin-young
  • February 3, 2015, 04:08
Share articles

Automobiles bound for overseas markets are waiting for shipment at the international auto pier of Pyeongtaek-Dangjin Port.
Automobiles bound for overseas markets are waiting for shipment at the international auto pier of Pyeongtaek-Dangjin Port.

 

According to the automobile industry on Feb. 2, January domestic and overseas sales of the five domestic automobile companies, which are Hyundai Motor, Kia Motors, GM Korea, Renault Samsung, and Ssangyong Motor Company, decreased to 717,332 units, down by 3.4 percent from a year ago.

Sales of Renault Samsung increased by 150.6 percent due to the sharp increase of exports, while sales of the rest of the companies like Hyundai Motors (-6.7 percent), Kia Motors (-1.8 percent), GM Korea (-3.8 percent), and Ssangyong Motor Company (-10.7 percent) dropped.

In the domestic market, a total of 111,620 vehicles were sold in January. Sales increased 5.0 percent from a year before, but total sales decreased because exports (605,712 units) decreased 4.8 percent.

For domestic sales, only Hyundai Motor (50,413 units) fell 2.2 percent, while Kia Motors (36,802 units), GM Korea (11,89 units), Renault Samsung (5,739 units), and Ssangyong Motor Company (6,817 units) increased.

In particular, sales of Renault Samsung and Ssangyong Motor Company increased 27.5 percent and 25.2 percent, respectively, with the effects of their new car SM5 Nova and Tivoli showing double digit increases.

Domestic sales of Kia Motors and GM Korea increased 8.2 percent and 9.0 percent, respectively.

On the other hand, exports of the five companies decreased 4.8 percent compared to the same month last year, with 605,712 units, starting the new year with sluggish sales.

Sales of Renault Samsung sharply increased 402.5 percent from a year ago by selling 11,045 cars in the overseas market, but the other carmakers weren't good in shipments overseas.

In particular, exports of Ssangyong Motor Company plummeted to 3,504 units, which decreased 42.7 percent, as exports to Russia decreased due to the plunge of Russian ruble value. Exports of Hyundai Motors and Kia Motors decreased to 335,455 units and 215,972 units, which decreased 7.3 percent and 3.3 percent respectively, due to a decrease of working days in overseas factories. GM Korea's exports decreased 7.0 percent to 39,736 units because it stopped sales of Chevrolet brands in the European market.