Domestic Sales of Korea’s Top Car Makers Increase in July
South Korea's leading car manufacturers Kia Motors, Hyundai Motors, Ssangyong Motors and Renault Samsung have earned higher domestic sales in July compared to the same period last year. With an increasing number of Koreans choosing mini vans and sports utility vehicles (SUVs), these companies have been able to increase their earnings.
The units sold by Kia Motors have reached 48,202, increasing by 13.9%. It marks the manufacturer's highest domestic sales ever in one month. The sales of recreational cars, such as Carnival and Sorrento, have increased by 10.2%. On the other hand, the sales of passenger vehicles, such as the current model K5, have increased by 19.1%. However, sales in global markets have fallen by 15.4%.
The units sold by Hyundai Motors, on one hand, have reached 357,795. This figure is up by 0.5%. The currently rolled out (in June), newer Santa Fe has been the company's best-selling model with 9,942 units sold. The sales of compact passenger vehicles, such as Porter, are up by 23.5%. But, like Kia, the sales of Hyundai in overseas markets have decreased by 7.3%.
The units sold by Ssangyong Motors have reached 8,210, increasing by 36.2%; thanks to Tivoli Diesel rolled out earlier this year. However, the company's overseas sales have fallen by 37.9%.
The units sold by Renault Samsung have reached 6,700, increasing by 10.9%. QM3 has the highest sales at 2,394 units, increasing by a whopping 245%. Unlike the first three manufacturers, Renault Samsung has successful overseas sales at 70.9-percent increase from last year. The company owes this to the sales of 7,500 Rogue (Nissan SUV) units.
Korea GM has bad news though. It's the only automaker in South Korea with declining domestic sales the previous month. Down by 6.8%, it has only sold 12,402 units. This figure may be higher than the overall sales of Renault Samsung and Ssangyong Motors, but plunging nonetheless. Still, it has a reason to rejoice because exports have risen by 30.7%; thanks to the shipment of cars before local factories close for summer.