The Korea Herald


Korea’s global auto sales up 3% in Aug.

By 김화균

Published : Sept. 1, 2016 - 17:51

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[THE INVESTOR] Combined sales of South Korea-based automakers continued to grow from a year earlier in August, the companies’ data showed on Sept. 1.

In August, the five automakers here sold a combined total of 641,761 cars globally, up 3.1 percent from 622,755 in the same month last year.

The five automakers include industry leader Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor Renault Samsung.

The slight increase in global sales came despite a sharp drop in the automakers‘ domestic sales.

Hyundai posted a 17.6 percent on-year plunge to 42,112 cars in domestic sales, while Kia followed suit with a 10.4 percent cut to 37,403 units.

They both blamed a reduction in the number of working days during the August holiday season, but also a series of labor strikes.

With domestic sales of the two largest automakers going south, the combined domestic sales of all five automakers slipped 10.4 percent on-year to 107,677 cars.

GM Korea also reported a 7.7 percent on-year drop to 12,773 cars in local sales.

Renault Samsung, on the other hand, saw its domestic sales spike 24.4 percent on-year to 7,713, while Ssangyong Motor reported a 2.1 percent increase to 7,676 cars.

The five automakers’ overseas sales, including sales of cars produced overseas, gained 6.3 percent on-year to 534,084.

Ssangyong Motor’s vehicle exports spiked 95.2 percent on-year to 7,527 in August, helped by strong demands for its trendy mini SUVs the Tivoli and the Tivoli Air.

Renault Samsung said its exports surged 38.4 percent on-year to 4,502 cars, with GM Korea reporting a 5 percent gain to 23,198 vehicles.

Kia Motors had its overseas sales spike 18.3 percent to 182,522 cars despite a 23.4 percent plunge in exports, as its overseas production of cars surged 56.7 percent in August, it said.

Hyundai Motor said its overseas sales slipped 0.8 percent to 316,335 cars in August, becoming the only South Korea-based automaker to report a drop in overseas sales.