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Five players strive to attract consumers at home amid ongoing weak demand
Automakers saw their vehicle sales at home inch up in May on a year-on-year basis after several months of weak domestic demand.
Hyundai Motor said Friday that it posted sales of 58,050 units in the local market, up 0.6 percent from 57,694 units a year earlier.
It was the first time the nation’s largest automaker reported an increase in year-on-year sales at home since last February.
Excluding February, Hyundai Motor’s domestic monthly sales continued to fall between September 2011 and April 2012.
Hyundai’s May sales recorded 4.6 percent growth compared to 55,497 units in April on the back of its release of the sport utility vehicle, New Santa Fe, early last month.
But the company’s combined sales between January and May stood at 268,402 units, down 5.6 percent over the same period last year.
In contrast, Hyundai Motor posted 9.6 percent on-year sales growth in the overseas market in May. While the carmaker reported 3.1 percent growth in exports, the growth in sales of vehicles produced in its overseas factories came to 13.3 percent.
Kia Motors, an affiliate of Hyundai Motor, said its domestic vehicle sales reached 40,750 units in May, up 7.2 percent from 38,012 units a year before.
Its overseas sales surged by 23.6 percent from 160,830 units to 198,849 units thanks to the growing popularity of its K-series models.
Further, Kia Motors recently unveiled the K9, a luxury premium sedan, and is poised to release the K3 compact sedan in the coming months.
GM Korea saw its sales in the local market increase by 4.9 percent to post 13,005 units in May, up from 12,403 units a year earlier.
Ssangyong Motor said its domestic sales rose 16.8 percent during the same period.
In contrast, Renault Samsung Motors posted a 41.8 percent drop in sales at home.
Major carmakers are battling to lower vehicle prices amid lackluster domestic consumption.
Their drive for lower prices is also sparked by the nation’s free trade agreements with Europe and the U.S., which took effect on July 1, 2011 and March 15, 2012, respectively.
Hyundai Motor’s discounts range between 200,000 won ($175) and 1 million won.
The company is offering a 1 million won discount for purchasers of the older model Santa Fe.
Hyundai’s discount for the Tucson ix recently rose to 500,000 won from 300,000 won early this year.
In addition, owners of import vehicles are enjoying discounts of 1 million won when they buy Hyundai’s Equus and Genesis premium sedans.
The company also offers the import vehicle owners a discount of 300,000 won when they buy the Grandeur and Sonata sedans and Veracruz SUV.
Kia Motors has formed a business alliance with SK Telecom under which Kia car buyers are given a new smartphone for free and a refueling certificate worth 100,000 won.
By Kim Yon-se (kys@heraldcorp.com)
Automakers saw their vehicle sales at home inch up in May on a year-on-year basis after several months of weak domestic demand.
Hyundai Motor said Friday that it posted sales of 58,050 units in the local market, up 0.6 percent from 57,694 units a year earlier.
It was the first time the nation’s largest automaker reported an increase in year-on-year sales at home since last February.
Excluding February, Hyundai Motor’s domestic monthly sales continued to fall between September 2011 and April 2012.
Hyundai’s May sales recorded 4.6 percent growth compared to 55,497 units in April on the back of its release of the sport utility vehicle, New Santa Fe, early last month.
But the company’s combined sales between January and May stood at 268,402 units, down 5.6 percent over the same period last year.
In contrast, Hyundai Motor posted 9.6 percent on-year sales growth in the overseas market in May. While the carmaker reported 3.1 percent growth in exports, the growth in sales of vehicles produced in its overseas factories came to 13.3 percent.
Kia Motors, an affiliate of Hyundai Motor, said its domestic vehicle sales reached 40,750 units in May, up 7.2 percent from 38,012 units a year before.
Its overseas sales surged by 23.6 percent from 160,830 units to 198,849 units thanks to the growing popularity of its K-series models.
Further, Kia Motors recently unveiled the K9, a luxury premium sedan, and is poised to release the K3 compact sedan in the coming months.
GM Korea saw its sales in the local market increase by 4.9 percent to post 13,005 units in May, up from 12,403 units a year earlier.
Ssangyong Motor said its domestic sales rose 16.8 percent during the same period.
In contrast, Renault Samsung Motors posted a 41.8 percent drop in sales at home.
Major carmakers are battling to lower vehicle prices amid lackluster domestic consumption.
Their drive for lower prices is also sparked by the nation’s free trade agreements with Europe and the U.S., which took effect on July 1, 2011 and March 15, 2012, respectively.
Hyundai Motor’s discounts range between 200,000 won ($175) and 1 million won.
The company is offering a 1 million won discount for purchasers of the older model Santa Fe.
Hyundai’s discount for the Tucson ix recently rose to 500,000 won from 300,000 won early this year.
In addition, owners of import vehicles are enjoying discounts of 1 million won when they buy Hyundai’s Equus and Genesis premium sedans.
The company also offers the import vehicle owners a discount of 300,000 won when they buy the Grandeur and Sonata sedans and Veracruz SUV.
Kia Motors has formed a business alliance with SK Telecom under which Kia car buyers are given a new smartphone for free and a refueling certificate worth 100,000 won.
By Kim Yon-se (kys@heraldcorp.com)
