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186829
Tue, 06/07/2011 - 06:16
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https://oananews.org//node/186829
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S. Korea's automobile output rises 10.5 pct in May
SEOUL (Yonhap) - Output by South Korea's five automakers in May rose 10.5 percent from a year earlier on strong overseas shipments, a local industry group said Tuesday.
The automakers, led by top industry player Hyundai Motor Co., produced 388,666 vehicles last month, compared with 361,819 units produced in May 2010, according to the Korea Automobile Manufacturers Association (KAMA).
The combined sales of the automakers rose 8.3 percent to 382,140 units from a year earlier as exports jumped 10.6 percent to 261,602 units.
Domestic sales rose 3.7 percent on-year to 120,538 units, but the figure marks a 5.1 percent drop from a month earlier as growing demand here was capped by disrupted production due to a weeklong strike at an auto parts manufacturer, Yoosung Enterprise Co., a major supplier of piston rings and cylinder liners in the local market.
The strike caused Hyundai Motor to lose some 3,750 vehicles in its monthly production and its affiliate, Kia Motors Corp., some 2,860 vehicles, KAMA said.
The five automakers earlier said their combined sales in May came to 638,110 units, but the number includes vehicles produced and sold in overseas markets. The automakers also include GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., Renault Samsung Motors Co., the local unit of French automaker Renault SA, and Ssangyong Motor Co.
Hyundai Motor's new Grandeur was the best-selling passenger sedan with 10,396 units sold in May, the fourth straight month its sales topped 10,000 units, closely followed by Hyundai's compact passenger car, the Avante, with 10,169 units.
Exports grew on strong demand for South Korean vehicles in newly emerging markets such as China, as well as advanced markets, including the U.S., KAMA said.
"Exports to North America rose despite increasing output of cars by Hyundai and Kia there as demand for their vehicles is growing along with recognition of the vehicles' quality and value," it said in a press release, adding exports to the U.S. jumped 19.9 percent in May from a year earlier.
The automakers, led by top industry player Hyundai Motor Co., produced 388,666 vehicles last month, compared with 361,819 units produced in May 2010, according to the Korea Automobile Manufacturers Association (KAMA).
The combined sales of the automakers rose 8.3 percent to 382,140 units from a year earlier as exports jumped 10.6 percent to 261,602 units.
Domestic sales rose 3.7 percent on-year to 120,538 units, but the figure marks a 5.1 percent drop from a month earlier as growing demand here was capped by disrupted production due to a weeklong strike at an auto parts manufacturer, Yoosung Enterprise Co., a major supplier of piston rings and cylinder liners in the local market.
The strike caused Hyundai Motor to lose some 3,750 vehicles in its monthly production and its affiliate, Kia Motors Corp., some 2,860 vehicles, KAMA said.
The five automakers earlier said their combined sales in May came to 638,110 units, but the number includes vehicles produced and sold in overseas markets. The automakers also include GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., Renault Samsung Motors Co., the local unit of French automaker Renault SA, and Ssangyong Motor Co.
Hyundai Motor's new Grandeur was the best-selling passenger sedan with 10,396 units sold in May, the fourth straight month its sales topped 10,000 units, closely followed by Hyundai's compact passenger car, the Avante, with 10,169 units.
Exports grew on strong demand for South Korean vehicles in newly emerging markets such as China, as well as advanced markets, including the U.S., KAMA said.
"Exports to North America rose despite increasing output of cars by Hyundai and Kia there as demand for their vehicles is growing along with recognition of the vehicles' quality and value," it said in a press release, adding exports to the U.S. jumped 19.9 percent in May from a year earlier.
