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GM Korea, Renault Samsung, Ssangyong post sagging sales
Hyundai Motor and Kia Motors saw their year-on-year vehicle sales increase last month on the back of robust performance overseas.
Hyundai-Kia’s overseas factories in particular led the affiliated carmakers’ sales growth. They operate manufacturing plants in countries such as the U.S., China, Turkey, the Czech Republic and Slovakia.
Hyundai Motor said it posted sales of 332,027 units in July, up 3.1 percent a year earlier.
The nation’s largest automaker sold 272,072 units in the overseas market, recording 3.8 percent on-year growth. Though its exports of cars that were produced in Korean factories reduced by 11.1 percent, its sales of cars rolled out from overseas plants increased by 13.4 percent.
Meanwhile, Hyundai sold 59,955 units at home, inching up 0.1 percent from a year before. On a monthly basis, its sales in the local market grew by 0.4 percent.
For the first seven months of the year, Hyundai’s sales rose 10.4 percent on-year to 2.5 million units.
Kia Motors reported a 0.6 percent on-year sales growth with 208,426 units, buoyed by a 10.9 percent growth in sales via overseas plants.
But the nation’s second-largest carmaker saw its domestic sales slide 1 percent to post 40,300 units.
During the January-July period, Kia’s sales rose 10.7 percent on-year to 1.6 million vehicles.
In contrast, three other major players here ― GM Korea, Renault Samsung Motors and Ssangyong Motor ― suffered ongoing sluggish sales in local and foreign markets.
GM Korea said it sold 60,720 units in July. Its domestic sales and exports dropped by 7.7 percent and 9 percent on-year, respectively.
Renault Samsung Motors posted 49.9 percent and 31.2 percent drops in local and overseas markets, respectively, for the same period.
The France-based carmaker sold 10,857 vehicles last month, compared with 18,507 units a year earlier.
It posted 93,919 vehicles in total sales during the January-July period, down 33.9 percent on-year.
Hit by a prolonged slump in vehicle sales, Renault Samsung seems to be staking everything on its mass production of electric cars from early next year to jockey for the nascent market in Korea.
The company showcased high-end technology in its first electric car model ― the SM3 Z.E. ― during the 2012 Busan International Motor Show, which was held from May 24-June 3.
Ssangyong Motor sold 4,164 units at home and exported 5,592 units last month, reporting a combined 9.4 percent fall on-year.
Meanwhile, the Korea Automobile Research Institute predicted that global companies will see the pace of sales growth “slow down markedly.”
Affected by the weaker consumer sentiment globally, the local market will see “the number of vehicle sales stay at about 1.55 million units this year, down by 30,000 units from 1.58 million units a year earlier,” said KARI, a unit of Hyundai Motor Group.
By Kim Yon-se (kys@heraldcorp.com)
Hyundai Motor and Kia Motors saw their year-on-year vehicle sales increase last month on the back of robust performance overseas.
Hyundai-Kia’s overseas factories in particular led the affiliated carmakers’ sales growth. They operate manufacturing plants in countries such as the U.S., China, Turkey, the Czech Republic and Slovakia.
Hyundai Motor said it posted sales of 332,027 units in July, up 3.1 percent a year earlier.
The nation’s largest automaker sold 272,072 units in the overseas market, recording 3.8 percent on-year growth. Though its exports of cars that were produced in Korean factories reduced by 11.1 percent, its sales of cars rolled out from overseas plants increased by 13.4 percent.
Meanwhile, Hyundai sold 59,955 units at home, inching up 0.1 percent from a year before. On a monthly basis, its sales in the local market grew by 0.4 percent.
For the first seven months of the year, Hyundai’s sales rose 10.4 percent on-year to 2.5 million units.
Kia Motors reported a 0.6 percent on-year sales growth with 208,426 units, buoyed by a 10.9 percent growth in sales via overseas plants.
But the nation’s second-largest carmaker saw its domestic sales slide 1 percent to post 40,300 units.
During the January-July period, Kia’s sales rose 10.7 percent on-year to 1.6 million vehicles.
In contrast, three other major players here ― GM Korea, Renault Samsung Motors and Ssangyong Motor ― suffered ongoing sluggish sales in local and foreign markets.
GM Korea said it sold 60,720 units in July. Its domestic sales and exports dropped by 7.7 percent and 9 percent on-year, respectively.
Renault Samsung Motors posted 49.9 percent and 31.2 percent drops in local and overseas markets, respectively, for the same period.
The France-based carmaker sold 10,857 vehicles last month, compared with 18,507 units a year earlier.
It posted 93,919 vehicles in total sales during the January-July period, down 33.9 percent on-year.
Hit by a prolonged slump in vehicle sales, Renault Samsung seems to be staking everything on its mass production of electric cars from early next year to jockey for the nascent market in Korea.
The company showcased high-end technology in its first electric car model ― the SM3 Z.E. ― during the 2012 Busan International Motor Show, which was held from May 24-June 3.
Ssangyong Motor sold 4,164 units at home and exported 5,592 units last month, reporting a combined 9.4 percent fall on-year.
Meanwhile, the Korea Automobile Research Institute predicted that global companies will see the pace of sales growth “slow down markedly.”
Affected by the weaker consumer sentiment globally, the local market will see “the number of vehicle sales stay at about 1.55 million units this year, down by 30,000 units from 1.58 million units a year earlier,” said KARI, a unit of Hyundai Motor Group.
By Kim Yon-se (kys@heraldcorp.com)
