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Auto sales by S. Korean carmakers reduce on Hyundai's sluggish sales

 

 SEOUL, Dec. 2 -- Automobile sales by South Korean carmakers reduced last month due to sluggish sales of top automaker Hyundai Motor and its affiliate Kia Motors, industry data showed Monday.

Auto sales by the country's five carmakers, including Hyundai, Kia, GM Korea, Renault Samsung and Ssangyong, fell 2.1 percent from a year earlier to 761,659 units in November.

Local sales dropped 7.9 percent on-year to 119,195 units last month, and exports slid 1 percent to 642,464 units.

Hyundai and Kia showed outstanding underperformance. Hyundai saw its domestic sales plunge 11.9 percent in November, with those for Kia tumbling 12.3 percent.

The two companies attributed the weak domestic sales to the low base effect of last year when temporary cuts in special consumption tax led to a rise in local car sales. Less business days were also cited as a negative factor.

Under the same conditions, other three carmakers recorded a sales rise in the local market. Sales by Ssangyong surged 48.5 percent, with those for GM Korea and Renault Samsung rising 2.4 percent and 2.3 percent each.

Hyundai posted the first reduction in overseas sales in four and a half years last month. The company's overseas sales of cars, including those assembled in local and overseas plants, declined 1. 3 percent in November from a year earlier.

 

 

 
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