Domestic sales by South Korea's five main automakers rose by 7.8% to 130,611 units in July from 121,144 units in the same month of last year, according to preliminary data released individually by the companies.
The data did not include sales by South Korea's low volume commercial vehicle manufacturers, including Tata-Daewoo and Daewoo Bus Corporation, which typically account for up to 2% of domestic sales.
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Also not included in the data were sales of imported vehicles, which exceeded 12% of the total vehicle market last year. These are covered in a separate report later in the month, as soon as the data is released.
Last month's sales rebounded from sharp declines in previous months, as year on year comparisons got easier following the withdrawal of a sales tax discount at the end of June last year. New models from key brands also helped drive demand higher last month.
Hyundai led the domestic market higher in July with a sales rise of more than 24% while Renault-Samsung and Ssangyong also reported strong gains. Kia's sales were just slightly lower while GM Korea's sales plunged by almost 25%.
In the first seven months of the year domestic sales were 2.5% lower at 910,296 units compared with 933,410 units in the same period of last year.
Worldwide
Global sales by the country's big five automakers, including vehicles produced overseas by Hyundai-Kia, continued to decline in July – by 3.1% to 625,412 from already weak year earlier sales of 645,705 units – reflecting lower overseas sales.
Global sales in the first seven months of the year were 7.4% lower at 4,635,016 units compared with 5,003,556 units previously.
Overseas sales, including vehicles produced overseas by Hyundai-Kia, dropped by 5.7% to 494,801 units last month from already weak 524,561 sales a year earlier. This mainly reflects sharp declines in China, where sales continued to be held back by the political fallout between the two countries over the recent deployment of the US missile shield, and in the US.
In the first seven months of the year overseas sales were 8.5% lower at 3,724,718 units, from 4,070,146 units previously.
Automakers
Hyundai Motor's global sales fell by 1.8% to 333,180 units in July, from 339,417 units a year earlier, due to declining overseas sales. In the first seven months of the year, the brand's global sales were down by 7.4% at 2,531,405 units from 2,733,516 units a year earlier, mainly reflecting sharply lower sales in China and the US.
Domestic sales jumped by 24.5% to 59,614 units in July from 47,879 units a year earlier, helped by the recent launch of the Kona sub-compact SUV and rebounding sales of other models. Cumulative seven month domestic sales were 1.4% higher at 404,397 units compared with 399,003 units a year earlier.
Hyundai's overseas sales continued to fall last month, by 6.2% to 273,566 units from 291,538 units a year earlier, reflecting sharp sales declines in China and in the US – where the recently rolled out Genesis brand and mainstream sedans performed very poorly. In the first seven months of the year, the company's overseas sales were 8.9% lower at 2,127,008 units compared with 2,334,220 units previously.
Kia Motors' global sales fell by 5.6% to 216,118 units in July from 229,044 units a year earlier, reflecting mainly declining overseas sales. Sales in the first seven months of the year were 8.9% lower at 1,536,703 units from 1,686,643 a year earlier.
Domestic sales fell by just 0.9% to 43,611 units last month from 44,007 units a year earlier, resulting in a 6.6% fall in year to date sales to 299,454 units from 320,757 units previously. The company hopes that new models, including the Stinger sporty sedan launched in May and the newly launched Stonic small SUV, will help reverse this recent decline.
Overseas sales fell by 6.8% to 172,507 in July from 185,037 units a year earlier, mainly reflecting sharply lower sales in China and a more moderate decline in the US. Cumulative seven month overseas sales were 9.4% lower at 1,237,330 units compared with 1,365,886 units in the same period last year.
GM Korea's global sales fell by 9.9% to 41,406 units in July from 45,977 units a year earlier, reflecting sharply lower domestic and overseas sales. In the first seven months of the year, CBU sales were 9.4% lower at 320,404 units compared with 353,489 units a year earlier.
The data did not include exports of CKD kits for assembly overseas, which are substantial.
Domestic sales continued to plunge last month, by almost 25% to 10,801 units from 14,360 units a year earlier, after a massive 37% decline in June as demand for the Impala, Malibu and Alpheon passenger cars continued to plummet. Year to date sales fell by 17.4% to 83,509 units from 101,139 units previously.
CBU exports fell by 3.2% to 30,605 units in July, from 31,617 units a year earlier, as withdrawal of the Chevrolet brand from many overseas markets continued, resulting in a 6.1% decline in year to date sales to 236,895 from 252,350 units previously.
Renault-Samsung's global sales rose by 26% to 23,295 vehicles in July, from 18,483 units a year earlier, reflecting higher domestic and overseas sales. In the first seven months of the year, global sales, excluding CKD exports, were up by 11.8% at 159,190 units compared with 142,413 a year earlier.
Domestic sales rebounded last month, by 7.8% to 7,927 units from 7,352 units a year earlier, after a sharp decline in June. Year to date sales were up by over 12.1% at 60,827 units from 54,269 units previously.
CBU exports jumped by over 38% to 15,368 in July from 11,131 units a year earlier, helped by a sharp increase in shipments of the SM6 flagship sedan and QM6 SUV models. In the first seven months of the year, exports were 10.8% higher at 98,381 units from 88,775 units previously.
Ssangyong Motor, majority owned by India's Mahindra & Mahindra, reported an 11.7% drop in sales of built up vehicles to 11,413 units in July compared with 12,784 units a year earlier, on sharply lower exports.
Global sales in the first seven months of the year were 6.4% lower at 81,758 units, compared with 87,361 units previously.
Domestic sales increased by 14.7% to 8,658 units in July, from 7,546 units a year earlier, and were 6.7% higher at 62,127 units in the first seven months of the year from 58,242 units previously.
CBU exports plunged by over 47% to 2,755 units last month, from 5,238 units a year earlier, and by close to 33% to 19,631 units year to date from 29,119 units previously.
Sources : www.AsiaMotorBusiness.com, industry sources. * excludes CKD exports.
