Car sales by S.Korean automakers rise on strong domestic demand

Source: Xinhua| 2018-02-01 15:41:52|Editor: Jiaxin
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SEOUL, Feb. 1 (Xinhua) -- Car sales by South Korean automakers rose in the first month of this year as weak export was offset by strong demand in the domestic market, industry data showed Thursday.

Global car sales by five South Korean carmakers, including Hyundai, Kia, GM Korea, Renault Samsung and Ssangyong, stood at 613,796 units in January, up 0.4 percent from a year earlier.

Auto exports fell 0.8 percent over the year to 501,344 vehicles in January, but local car sales increased 5.9 percent to 112,452 units.

Hyundai Motor, the country's biggest automaker, sold 334,217 vehicles in the global market in January, down 1.4 percent from a year ago.

Hyundai's domestic car sales jumped 14 percent to 51,426 units, while its overseas auto sales declined 3.8 percent due to soft demand from China, the world's largest auto market.

Kia Motors, the second-biggest carmaker affiliated with Hyundai, sold 205,126 vehicles globally in January, up 5.2 percent from the same month of last year. Kia's domestic car sales jumped 11.7 percent, while its overseas auto sales gained 3.8 percent.

Domestic car sales by GM Korea tumbled 32 percent, with its auto exports falling 1.8 percent.

Renault Samsung's local car sales declined 14 percent in January, but its auto exports advanced 20.5 percent.

Ssangyong's car sales in the domestic market grew 9.4 percent last month, but its car exports plunged 25.7 percent.

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