SOUTH KOREA: Overseas sales boost GM-Daewoo
GM Daewoo Auto and Technology on Monday said automobile sales increased 49.4% year on year in July on strong overseas demand.
The automaker sold 67,318 vehicles last month, compared to 45,064 units a year ago. Domestic sales increased 10.4% to 10,313 units in July with exports jumping 59.6% to 57,005 units.
The company also exported 75,626 complete knock-down kits for assembly overseas.
Hyundai Kia Automotive Group’s two carmakers also posted increases in July sales, with Kia Motors sales showing a larger year on year increase.
Kia said July sales in July increased 41.2% from a year ago on strong sales in domestic and overseas markets.
Kia sold 179,003 vehicles last month, compared to 126,803 units a year earlier. Domestic sales jumped 29.6% to 45,100 units from 34,811 units in the same period last year.
Exports soared 45.6% on-year to 133,903 units from 91,992 units, it said.
Hyundai Motor sales jumped 11.8% as a large boost in exports more than offset a significant drop in domestic sales.
Hyundai sold 293,460 units at home and abroad last month, compared with 262,562 vehicles during the same month a year earlier, the company said in a statement.
Overseas sales jumped 21% to 244,405 units, but domestic sales dropped 19.1% to 49,055 units.
Market watchers attributed the drop in domestic sales to strong sales by Kia following its introduction of the new K5 sedan in May.
Both Ssangyong Motor and Renault Samsung Motors also said their July sales saw year on year increases, the Korea Herald reported.
Ssangyong said that it sold more than 7,000 vehicles for the fourth consecutive month in July, helped by strong overseas demand for its large sport utility vehicles.
The company sold 7,369 vehicles in July, down 0.7% from a month earlier. The company sold only 71 vehicles in July 2009 amid a prolonged strike and occupation of its plant by workers that lasted nearly 100 days from May to August.
Ssangyong’s domestic sales dropped 8.9% from a month before to 2,738 units, but its exports increased to 4,631 units, up 4.8% from 4,418 units in June.
Renault Samsung said sales in July increased 10.8% year on year as strong overseas shipments more than offset a decline in domestic sales.
Renault Samsung sold 21,194 units last month, compared to 19,132 vehicles a year earlier, the company said in a statement.
Domestic sales dropped 7.6% to 12,620 units, but exports jumped 56.6% to 8,574 units from 5,476 units a year earlier.