Domestic sales among South Korea’s five main automakers jumped by 24.3% to 154,108 units in December, compared with 123,931 units in the same month of last year, according to data released individually by the vehicle manufacturers.
The data did not include sales of South Korea’s low volume commercial vehicle manufacturers, including Tata-Daewoo and Daewoo Bus Corporation, which typically account for less than 2% of the domestic market combined.
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Domestic sales have been lifted by recent interest rate cuts by the Bank of Korea as well as the release of new models by the mainstream manufacturers over the last few months, including the Kia Carnival [Sedona] and Sorento, and strong demand for revamped models such as the Hyundai Genesis and Sonata.
Global sales among the ‘big-five’, including previously unreported knocked down assembly kit exports by GM Korea, amounted to 943,472 units – driven higher primarily by stronger demand at home and in key overseas markets such as India and China.
Hyundai Motor reported a 38.3% increase in domestic sales to 69,357 units in December, from 50,160 units a year earlier, reflecting a sharp rise in demand for passenger cars such as the Sonata and Genesis. Overall sales of passenger cars increased by almost 69% to 43,978 units and commercial vehicle sales increased by 10.2% to 15,841 units, while SUV sales fell by 2.2% to 9,540 units.
Global sales increased by 19.4% to 475,918 units in December and by 4.9% to 4,963,456 units in the whole of 2014.
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By GlobalDataFull year domestic sales increased by 6.9% to 685,191 units with passenger car sales rising by 9.6% to 378,177 units and commercial vehicle sales rising 7.9% to 174,213 units while SUV sales were 1.3% lower at 132,801 units.
Hyundai’s overseas sales increased by 16.7% to 406,561 units in December, thanks to an almost 20% jump in sales of vehicles produced overseas to 285,903 units, driving full-year volume up by 4.6% to 4,278,265 units.
Kia Motors’ domestic sales increased by 17% to 48,018 units in December, from 41,021 units a year earlier, helped by the recent introduction of the Sorento and Carnival models.
Full year domestic sales rose 1.6% to 465,200 units, compared with 458,000 units in the previous year, while overseas sales rose by 8.7% to 2,575,400 units. Global sales increased by 7.3% to 3,033,400 units, from 2,827,321 units in the previous year.
GM Korea reported 1.4% rise in domestic sales to 18,109 units in December, from 17,853 units a year earlier, helped by a more than 62% increase in sales of the Chevrolet Malibu to 2,480 units and the relaunch of the Labo mini commercial vehicle in the third quarter. Demand for the Alpheon executive saloon and SUVs was also strong last month. Full year domestic sales increased by 2.2% to 154,381 units, from 151,040 units previously.
Overseas sales, including CBU and CKD exports, amounted to 130,548 units in December and 1,497,709 units in the whole of 2014. Global sales in December amounted to 148,657 units in December and 1,652,090 units in 2014.
Renault-Samsung’s global sales jumped by over 76% to 23,645 units in December, helped by buoyant exports – driven by strong overseas demand for the QM5 crossover model and the recent start-up of the Nissan Rogue. Domestic sales were also strong last month, with volumes rising by close to 31% to 10,363 units reflecting strong demand for the SM3 and SM5 models.
Full-year global sales increased by almost 30% to 169,854 units, up from the 131,010 units last year, with domestic sales rising by over 33% to 80,003 units and exports up by close to 27% at 89,851 units.
Ssangyong Motor, owned by India’s Mahindra & Mahindra, reported a 25% increase in domestic sales to 8,261 units in December thanks to strong demand for the Korando SUV range. CBU exports fell sharply however, by almost 32% to 4,503 units, reflecting a sharp drop in demand in Russia and the Ukraine – two key export markets for the brand.
Full-year global sales fell by 3.3% to 139,883 units, with a 7.9% rise in domestic sales to 69,036 units more than offset by a 13% drop in exports to 70,847 units.
South Korean carmakers: domestic/overseas sales by brand, December 2014
|
Brands |
Domestic |
Overseas |
Global |
|
69,357 |
406,561 |
475,918 |
|
|
Kia |
48,018 |
234,470 |
282,488 |
|
GM Korea |
18,109 |
130,548 |
148,657 |
|
Renault-Samsung |
10,363 |
13,282 |
23,645 |
|
Ssangyong |
8,261 |
4,503 |
12,764 |
|
Total |
154,108 |
789,364 |
943,472 |
Sources : www.AsiaMotorBusiness.com, industry sources.
