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Industry

S. Korean automakers' global car sales decline in H1

July 04, 2017


Abstract : Global car sales by South Korean automakers declined in the first half of this year due to weak demand at home and abroad, industry data showed Monday.

SEOUL, July 3 (Xinhua) -- Global car sales by South Korean automakers declined in the first half of this year due to weak demand at home and abroad, industry data showed Monday.

Global auto sales by Hyundai, Kia, GM Korea, Renault Samsung and Ssangyong totaled 4,003,804 units during the January-June period, down 8.1 percent from the same period of last year.

Sales in the domestic market fell 4 percent to 779,685 vehicles in the cited period, while exports tumbled 9.1 percent to 3,224,119 units.

Top automaker Hyundai Motor saw its global car sales decline 8.2 percent over the year to 2,198,342 units in the first half, with the figure for its affiliate Kia Motors plunged 9.4 percent to 1,320,224 units.

Demand for locally-made vehicles tumbled in China, dealing a blow to local automakers. In June alone, car sales by Hyundai and Kia plunged over 60 percent in the Chinese market compared with the same month of last year.

Global car sales by GM Korea retreated 9.3 percent in the first half compared with a year earlier. The number for Ssangyong shed 5.7 percent, but sales by Renault Samsung increased 9.7 percent on solid demand for new models.

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Keyword: automobile South-Korea

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