South Korean auto sales worldwide rose 7% in March from the same period a year earlier as the launch of new models by Hyundai Motor helped attract new buyers at home and overseas.
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Sales totalled 495,379 units last month from 462,796 units a year earlier, Yonhap reported.
Hyundai Motor led the pack by posting a 12.4% year-on-year gain in March sales to 258,395 units, while its affiliate Kia Motor Corp. saw sales drop 3.5% to 121,166 units.
GM Daewoo Auto & Technology Co., the South Korean unit of GM, posted an 8.9% rise with sales totaling 87,265 units.
Renault Samsung Motor Co., the local unit of French automaker Renault SA, saw overall sales rise to 18,418 vehicles in March from 15,607 last year, the company said. Exports surged 67.4% to 8,372 units. The company is expecting the introduction of new models to boost its total sales to more than 200,000 units this year.
SsangYong Motor Co., controlled by SAIC, said its sales for March fell 13.1% to a total of 10,135 units last month with domestic sales falling 16.4% and exports off 8.3% on year-ago levels.
Despite the weaker sales, SsangYong is pinning its hopes on its new large luxury car called the Chairman W.
SsangYong Motor’s president and chief executive, Choi Hyung-Tak, said in a written statement that the company was expecting its sales volume to rise because the market for large sedans was growing.
