Domestic sales by South Korea’s five main automakers increased by almost 5% to 111,620 units in January, compared with 106,343 vehicles in the same month of last year, according to data released individually by the vehicle manufacturers.
The data does not include sales of 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 in recent months have been lifted by interest rate cuts by the Bank of Korea as well as the release of new models by the mainstream manufacturers, including the Kia Carnival (Sedona) minivan and Sorento SUV, and strong demand for revamped models such as the Hyundai Genesis and Sonata.
Global sales by the ‘big-five’, excluding knocked down (KD) kit exports from GM Korea, fell 3.2% to 717,332 units in January – reflecting mainly weak sales in some key overseas markets. Both Hyundai and Kia attributed lower overseas volumes to fewer working days at a number of overseas assembly plants, as well as weak demand in some key markets and rising competition.
Hyundai Motor reported a 6.2% drop in global sales to 385,868 units in January, from 411,508 units a year earlier, reflecting lower overseas and domestic sales. Home market sales fell by 2.2 domestic to 50,413 units, from 51,525 units a year earlier, which the company put down to rising competition from domestic and overseas automakers. Demand for the Genesis and Sonata ranges was strong, particularly for the Sonata hybrid.
Overseas sales fell by 6.8% to 335,455 units, from 359,983 a year earlier, driven lower by a fall in output at some key overseas assembly plants due to fewer working days, as well as lower demand in key emerging markets, particularly in eastern Europe.
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By GlobalDataKia Motors’ global sales fell by 1.7% to 252,774 units in January, from 257,259 units in the same month of last year, driven lower by weak overseas sales which the company also attributed to fewer working days at some important assembly plants overseas.
Domestic sales increased by 8.2% to 36,802 units, from almost 34,000 units a year earlier, helped by the recent introduction of the Sorento and Carnival. Overseas sales fell by 3.3% to 215,972 units, from 223,259 units.
GM Korea reported an almost 9% jump in domestic sales to 11,849 units in January, from 10,873 units a year earlier, thanks to strong demand for the Chevrolet Spark, Malibu and (Buick variant) Alpheon models, as well as the recent relaunch of the Labo small commercial vehicle range.
Overseas shipments of built-up vehicles fell by 7% to 39,736 units, from 42,733 units, as part of an ongoing trend as GM reorganises its global Chevrolet supply network. The data does not include shipments of KD kits for assembly elsewhere, which are substantial.
Renault-Samsung’s global sales jumped by over 150% to 16,784 units in January, from 6,698 units a year earlier, reflecting particularly strong overseas sales.
Domestic sales increased by 27.5% to 5,739 units, with demand for the QM3 compact SUV soaring nine-fold to 1,642 units. Overseas sales increased five times to 11,045 units, reflecting the recent start of Renault Rogue exports.
SsangYong Motor, owned by India’s Mahindra & Mahindra, reported an 11.3% fall in global sales to 10,321 units in January, from 11,634 units a year earlier.
Domestic sales rose by almost 23% to 5,739 units thanks to strong demand for the Korando SUV range. Overseas sales fell by over 43% to 3,504 units, reflecting sharply lower demand in key export markets such as Russia and Ukraine.
South Korean carmakers: domestic/overseas sales by brand, January 2015
|
Brands |
Domestic |
Overseas |
Global |
|
50,413 |
335,455 |
385,868 |
|
|
Kia |
36,802 |
215,972 |
252,774 |
|
GM Korea |
11,849 |
39,736 |
51,585 |
|
Renault-Samsung |
5,739 |
11,045 |
16,784 |
|
Ssangyong |
6,817 |
3,504 |
10,321 |
|
Total |
111,620 |
605,712 |
717,332 |
Sources : www.AsiaMotorBusiness.com, industry sources.
