ID :
211101
Tue, 10/04/2011 - 12:53
Auther :
Shortlink :
https://oananews.org//node/211101
The shortlink copeid
S. Korean auto sales up 15.2 pct in Sept.
SEOUL, Oct. 4 (Yonhap) -- Sales of South Korea's top automaker Hyundai Motor Co. and four other industry players rose 15.2 percent on-year in September thanks to solid demand gains at home and abroad, the companies said Tuesday.
The combined sales of the companies came to 671,642 units last month, compared with 582,758 vehicles sold a year earlier. Exports surged 18.2 percent on-year to 547,471 units last month while domestic shipments rose 3.7 percent to 124,174 units.
Compared to the previous month, sales in foreign markets jumped 14.5 percent, with the number of vehicles made by the five companies sold domestically rising 9.1 percent.
Overseas sales cover cars exported from South Korea and vehicles made in foreign assembly plants, but exclude so-called complete knockdown kits of vehicles that are shipped abroad for assembly at foreign plants.
The five automakers also include 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., an affiliate of the Indian sport utility vehicle maker Mahindra & Mahindra Ltd.
For the first nine months of 2011, the carmakers sold more than 5.67 million vehicles, up from more than 4.96 million tallied during the same period last year, data showed.
Industry sources said solid overall sales gains in September reflected positive consumer reactions to new models, improved quality and performance of South Korean vehicles and better brand image abroad.
"There was a slight dip in domestic sales due to the Chuseok lunar thanksgiving holiday, but demand for cars in India, the United States, Europe and China all rose," a Hyundai spokesman said. He pointed out that overseas vehicle production growth jumped 17.6 percent on-year last month, surpassing export growth that reached 17.1 percent last month.
Hyundai, South Korea's No. 1 carmaker, reported sales rising 14.1 percent on-year last month to 359,560 units, although its domestic demand dipped 1.1 percent.
Kia, which also reported strong overseas sales last month, said foreign consumer demand for models such as the Forte, new Pride and Sportage R all contributed to its 16.4 percent sales increase.
GM Korea, which posted its best ever January-September sales this year, said better brand recognition has helped fuel domestic demand for such cars as the Cruze and Captiva models that are made in South Korea for both the local and overseas markets.
Vice President Ankush Arora said the company's Chevrolet brand has received positive recognition in the local market. The carmaker's domestic market share stood at 9.5 percent, making it the third largest after Hyundai and Kia, whose combined share hit 79.1 percent in September.
Insiders at Renault Samsung and Ssangyong, meanwhile, concurred that the release of new cars contributed to sales growth last month.
The companies said new models such as the SM7 and Korando C sparked consumer interest and could contribute to sales growth for the coming months.
Market watchers added that solid sales of South Korean cars are noteworthy because a slowdown in the global economy has hurt sales for some foreign carmakers.
They pointed out that sales of cars made by such companies as Hyundai and Kia have made impressive headway in foreign markets, while moves by smaller manufacturers like Ssangyong to expand into overseas markets could further push up sales this year.
Industry insiders added that a rise in international fuel prices played a role in the solid sales of South Korean cars, which generally enjoy better mileage vis-a-vis competitors. They said consistent efforts to expand into newly emerging markets also helped sales figures.
yonngong@yna.co.kr
(END)
The combined sales of the companies came to 671,642 units last month, compared with 582,758 vehicles sold a year earlier. Exports surged 18.2 percent on-year to 547,471 units last month while domestic shipments rose 3.7 percent to 124,174 units.
Compared to the previous month, sales in foreign markets jumped 14.5 percent, with the number of vehicles made by the five companies sold domestically rising 9.1 percent.
Overseas sales cover cars exported from South Korea and vehicles made in foreign assembly plants, but exclude so-called complete knockdown kits of vehicles that are shipped abroad for assembly at foreign plants.
The five automakers also include 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., an affiliate of the Indian sport utility vehicle maker Mahindra & Mahindra Ltd.
For the first nine months of 2011, the carmakers sold more than 5.67 million vehicles, up from more than 4.96 million tallied during the same period last year, data showed.
Industry sources said solid overall sales gains in September reflected positive consumer reactions to new models, improved quality and performance of South Korean vehicles and better brand image abroad.
"There was a slight dip in domestic sales due to the Chuseok lunar thanksgiving holiday, but demand for cars in India, the United States, Europe and China all rose," a Hyundai spokesman said. He pointed out that overseas vehicle production growth jumped 17.6 percent on-year last month, surpassing export growth that reached 17.1 percent last month.
Hyundai, South Korea's No. 1 carmaker, reported sales rising 14.1 percent on-year last month to 359,560 units, although its domestic demand dipped 1.1 percent.
Kia, which also reported strong overseas sales last month, said foreign consumer demand for models such as the Forte, new Pride and Sportage R all contributed to its 16.4 percent sales increase.
GM Korea, which posted its best ever January-September sales this year, said better brand recognition has helped fuel domestic demand for such cars as the Cruze and Captiva models that are made in South Korea for both the local and overseas markets.
Vice President Ankush Arora said the company's Chevrolet brand has received positive recognition in the local market. The carmaker's domestic market share stood at 9.5 percent, making it the third largest after Hyundai and Kia, whose combined share hit 79.1 percent in September.
Insiders at Renault Samsung and Ssangyong, meanwhile, concurred that the release of new cars contributed to sales growth last month.
The companies said new models such as the SM7 and Korando C sparked consumer interest and could contribute to sales growth for the coming months.
Market watchers added that solid sales of South Korean cars are noteworthy because a slowdown in the global economy has hurt sales for some foreign carmakers.
They pointed out that sales of cars made by such companies as Hyundai and Kia have made impressive headway in foreign markets, while moves by smaller manufacturers like Ssangyong to expand into overseas markets could further push up sales this year.
Industry insiders added that a rise in international fuel prices played a role in the solid sales of South Korean cars, which generally enjoy better mileage vis-a-vis competitors. They said consistent efforts to expand into newly emerging markets also helped sales figures.
yonngong@yna.co.kr
(END)
