Domestic car sales inch up in February

By Korea Herald
  • Published : Mar 3, 2014 - 20:16
  • Updated : Mar 3, 2014 - 20:16
Hyundai Motor, the nation’s largest carmaker, said Monday that its car sales increased 3.4 percent to 378,844 vehicles in February from a year ago, largely driven by the increased number of working days and strong overseas sales.

In Korea, the company sold 51,380 vehicles, up 8.2 percent from a year earlier. Sales of the revamped Genesis sedan more than quadrupled on-year, while the steady-seller Grandeur and its new hybrid model elevated sales overall.

Its overseas sales also inched up 2.7 percent last month to 327,464 vehicles, including 96,930 exports from Korea and 230,534 produced at overseas factories.

Hyundai’s affiliate Kia Motors said its sales surged 18.2 percent in February from a year ago, helped by more working days than the month before from the Lunar New Year holiday.

The company said it sold 242,799 units overall last month, up from 205,341 vehicles tallied a year earlier.

Of all cars sold, sales in the home market jumped 6.4 percent on-year to 35,000 units, while overseas sales stood at 207,799, a 20.5 percent increase from a year ago, the company said in a statement.

Meanwhile, GM Korea, the Korean unit of Detroit-based General Motors, said its sales for February plunged 18 percent from a year earlier due mainly to weak overseas demand.

The nation’s third-largest carmaker sold 48,007 vehicles last month, down from 58,574 units sold in February 2013.

Its domestic sales moved up 3.3 percent on-year to 10,301 units on the back of demand for steady-selling models such as the Aveo subcompact, Cruze compact and Malibu mid-size sedan.

Ssangyong Motor, owned by India’s Mahindra & Mahindra, continued its recent sales momentum in February, selling 11,805 vehicles, including 5,502 in Korea and 6,303 in overseas markets.

Boosted by the strong sales of its flagship SUV models, its car sales on its home turf surged 26.9 percent from a year ago.

Domestic sales by Renault Samsung, the Korean unit of France-based Renault Group, increased 16.7 percent to 4,821 vehicles from a year ago, with the SM3 compact the QM5 SUV driving up the sales.

But its global sales dropped 33.5 percent to 7,717 vehicles from a year earlier as exports fell sharply. 

(From news reports)