Domestic sales by South Korea’s five largest automakers combined continued to fall in March, by 4.4% to 139,432 units from 145,903 units a year earlier, according to preliminary data released individually by the vehicle manufacturers.
The data did not include sales by South Korea’s low-volume commercial vehicle manufacturers such as Tata-Daewoo and Daewoo Bus Corporation, which typically account for less than 1% of the domestic vehicle market.
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Also not included in the data were sales of imported vehicles, which accounted for just under 13% of the total vehicle market last year. These will be covered in a separate report when the data is released later in the month.
The market in March was driven lower by a 58% drop in GM Korea sales to 6,272 units, with domestic confidence in the brand continuing to weaken as the company struggled to put together a survival plan. Renault-Samsung’s sales also fell sharply last month, by almost 26% to 7,800 units.
These declines were offset in part by a 6% rise in Hyundai sales to 67,577 units, a 1.9% increase in Kia sales to 48,540 units and a 0.2% rise in Ssangyong sales to 9,243 units.
Domestic sales in the first quarter of 2018 declined by 3.9% to 357,316 units compared with 371,725 units in the same period of last year.
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By GlobalDataGlobal sales among the country’s ‘big five’ automakers, including vehicles produced overseas by Hyundai and Kia, rose by 0.7% to 719,003 units in March from 714,116 units a year earlier – reflecting stronger overseas sales. First quarter global sales were down by 2.3% at 1,900,718 units from 1,964,800 units in the same period of last year.
Overseas sales, including vehicles produced overseas by Hyundai and Kia, increased by 2.0% to 579,571 units from 568,213 units in same period of last year, as sales in China began to stabilise compared with very weak year earlier data, while sales in the US continued to weaken.
First quarter overseas sales were still 2.7% lower at 1,543,402 units compared with 1,586,272 units in the same period of last year.
Hyundai Motor‘s global sales rose by 1.6% to 397,041 units in March from 390,603 units a year earlier, reflecting both higher domestic and overseas sales. First quarter preliminary data showed global sales fell by 2.4% to 1,041,406 units from 1,067,095 units a year earlier.
Hyundai’s domestic sales rebounded by 6% to 67,577 units last month from 63,765 units a year earlier, helped by the local launch of the new Santa Fe mid size SUV in the previous month and by buoyant demand for the recently launched Kona compact SUV. First quarter domestic sales were 4.5% higher at 169,203 units from 161,978 units a year earlier.
The company’s overseas sales increased by 0.8% to 329,464 units in March from 326,838 units a year earlier, with signs that sales are beginning to stabilise in China compared with depressed year earlier volumes while US sales continued to decline sharply. First quarter overseas shipments were still 3.4% lower at 872,577 units from 903,117 units a year earlier.
Kia Motors‘ global sales recovered some ground in March, with volumes rising by 3.4% 242,274 units from 234,390 units a year earlier on stronger domestic and overseas sales. First quarter volumes inched up by 0.2% to 646,040 units from 644,868 a year earlier.
Domestic sales increased by 1.9% to 48,540 units in March from 47,621 units a year earlier, helped by new models such as the recently launched Stonic compact SUV and the new K3 compact sedan. First quarter domestic sales were 2.3% higher at 124,650 units compared with 121,881 units a year earlier.
Overseas sales increased by 3.7% to 193,734 units last month from 186,769 units a year earlier, with US sales rising moderately and signs that volumes in China are stabilising compared with last year’s depressed levels. First quarter overseas sales were just under 1% lower at 518,712 units compared with 523,077 units a year earlier.
GM Korea‘s global sales fell by almost 19% to 41,260 units in March from 50,850 units a year earlier, reflecting sharply lower domestic sales and sluggish exports which the company blamed on a lack of new models. Global sales in the first quarter were 15.8% lower at 120,386 units compared with 143,058 units in the same period of 2017.
Domestic sales deteriorated further in March, with deliveries to dealers falling by close to 58% to 6,272 units from 14,778 units a year earlier. The decline was led by particularly weak demand for models such as the Cruze, Malibu and Impala as they came up against rising competition from Hyundai and Kia.
The company’s uncertain future and the imminent closure of the Gunsan plant also weighed heavily on brand sentiment. First quarter domestic sales were more than 47% lower at 19,920 units compared with 37,648 units a year earlier.
Exports fell by 3% to 34,988 units in March from 36,072 units a year earlier and by 4.7% to 100,466 units in the first quarter from 105,410 units, as the company continued to reduce the Chevrolet brand’s presence in global markets.
Renault-Samsung‘s global sales rose by 7.0% to 27,059 units in March from 25,281 units a year earlier with sharply higher exports more than offsetting weak domestic sales. First quarter global sales were 1.8% lower at 64,900 units compared with 66,119 units in the same period of last year.
Domestic sales fell by 26% to 7,800 units last month from 10,510 units previously while first quarter sales were almost 25% lower at 19,555 units from 25,956 units.
Exports rebounded strongly in March after declining in the previous month, with shipments rising by over 30% to 19,259 units from 14,771 units a year earlier. First quarter exports were almost 13% higher at 45,345 units from 40,161 units previously, driven by strong overseas demand for the Nissan Rogue SUV.
Ssangyong Motor, majority-owned by India’s Mahindra & Mahindra, reported a 13% drop in built-up vehicle sales to 11,369 units in March from 12,992 units a year earlier on sharply lower exports. First quarter global sales were more than 10% lower at 30,664 units from 34,228 units previously.
Domestic sales rose by 0.2% to 9,243 units last month from 9,229 units a year earlier, supported by the launch of the new Korando Turismo minivan in January. First quarter domestic sales were still 1.5% lower at 23,988 units from 24,350 previously.
Exports continued to deteriorate in March, with sales falling by 44% to 2,126 units from 3,763 units a year earlier and by over 32% to 6,676 units in the first quarter from 9,878 units previously.
