ID :
198495
Mon, 08/01/2011 - 12:07
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https://oananews.org//node/198495
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S. Korean auto sales up 9.9 pct in July
SEOUL, Aug. 1 (Yonhap) -- South Korea's five automakers, led by Hyundai Motor Co., said Monday their sales increased 9.9 percent on-year in July thanks mainly to overall gains in demand at home and abroad.
Their combined sales came to 626,060 units last month, compared with the 570,062 vehicles a year earlier. Sales in overseas markets gained 10.9 percent on-year to 498,823 units last month while domestic shipments rose 6.2 percent to 127,237 units.
July's on-year growth rate, however, was much lower than June's 14.6 percent surge. Overseas sales include cars exported from South Korea and vehicles made in foreign assembly plants.
The four others are Hyundai's affiliate Kia Motors Corp.; GM Korea Co., the South Korean unit of the world's leading automaker General Motors; Renault Samsung Motors Co., the local unit of French automaker Renault SA; and Ssangyong Motor Co.
In the first seven months of this year, the carmakers sold 4.41 million vehicles at home and abroad, up 14.1 percent from a year earlier.
Industry watchers said the July sales gain reflects positive market reactions to new models as well as the overall improvement in quality, style and brand image of South Korean vehicles.
The monthly drop was due to labor-management wage negotiations at companies such as Kia, and the temporary halting of the assembly lines by GM Korea so it can produce new cars.
Carmakers, however, said that demand will likely pick up in the coming months, fueling domestic and overseas shipments.
Hyundai said that its new car models fared well with sales expected to increase steadily in the coming months.
The carmaker, whose sales rose 9.8 percent to 323,637 units last month, said every effort is being made to meet global market trends, such as demand for hybrid cars, to ensure solid growth.
This view was echoed by Kia and GM Korea that said sales should likely grow in the future as labor-related issues and updating facilities have largely been concluded.
"The success of the hatchback Cruze compact and the LPGi Orlando are all expected to help sustain sales growth," Ankush Arora, GM Korea's vice president for vehicle sales, said.
Kia's sales rose 15.2 percent on-year to 206,600 vehicles last month with shipments of GM Korea, which makes cars under the Chevrolet brand, dipping 1 percent to 66,553 units.
Renault Samsung said that though its sales dropped 12.7 percent to 18,507 vehicles, it expects conditions to improve once the SM7 luxury sedan reaches the market in mid-August.
"The SM7 will open a open a new paradigm for sedans that can boost sales," the carmaker claimed.
Ssangyong, the country's smallest carmaker said that July records showed the company's potential for growth. The carmaker sold a record 10,763 units last month, up 46.1 percent from a year earlier. "With the restart of sales to China this month, sales should pick up the pace in the coming months."
Their combined sales came to 626,060 units last month, compared with the 570,062 vehicles a year earlier. Sales in overseas markets gained 10.9 percent on-year to 498,823 units last month while domestic shipments rose 6.2 percent to 127,237 units.
July's on-year growth rate, however, was much lower than June's 14.6 percent surge. Overseas sales include cars exported from South Korea and vehicles made in foreign assembly plants.
The four others are Hyundai's affiliate Kia Motors Corp.; GM Korea Co., the South Korean unit of the world's leading automaker General Motors; Renault Samsung Motors Co., the local unit of French automaker Renault SA; and Ssangyong Motor Co.
In the first seven months of this year, the carmakers sold 4.41 million vehicles at home and abroad, up 14.1 percent from a year earlier.
Industry watchers said the July sales gain reflects positive market reactions to new models as well as the overall improvement in quality, style and brand image of South Korean vehicles.
The monthly drop was due to labor-management wage negotiations at companies such as Kia, and the temporary halting of the assembly lines by GM Korea so it can produce new cars.
Carmakers, however, said that demand will likely pick up in the coming months, fueling domestic and overseas shipments.
Hyundai said that its new car models fared well with sales expected to increase steadily in the coming months.
The carmaker, whose sales rose 9.8 percent to 323,637 units last month, said every effort is being made to meet global market trends, such as demand for hybrid cars, to ensure solid growth.
This view was echoed by Kia and GM Korea that said sales should likely grow in the future as labor-related issues and updating facilities have largely been concluded.
"The success of the hatchback Cruze compact and the LPGi Orlando are all expected to help sustain sales growth," Ankush Arora, GM Korea's vice president for vehicle sales, said.
Kia's sales rose 15.2 percent on-year to 206,600 vehicles last month with shipments of GM Korea, which makes cars under the Chevrolet brand, dipping 1 percent to 66,553 units.
Renault Samsung said that though its sales dropped 12.7 percent to 18,507 vehicles, it expects conditions to improve once the SM7 luxury sedan reaches the market in mid-August.
"The SM7 will open a open a new paradigm for sedans that can boost sales," the carmaker claimed.
Ssangyong, the country's smallest carmaker said that July records showed the company's potential for growth. The carmaker sold a record 10,763 units last month, up 46.1 percent from a year earlier. "With the restart of sales to China this month, sales should pick up the pace in the coming months."
