Strong Exports Keep Carmakers Alive


Domestic carmakers received favorable overall results in sales, despite the continuation of sluggish local sales with no signs of an upturn.

Hyundai Motor retailed 196,242 units in June, up 30.1 percent from a year ago, including 46,321 units in the domestic market and 149,921 units in the overseas markets.

Although Hyundai’s local sales contracted 1.4 percent year-on-year in June, the exports jumped 44.3 percent to mark the monthly record high.

In the first half, Hyundai hit the cumulate one-million-unit sales for the first time for a six-month period with 1.06-million-unit sales, up 9.6 percent compared to the same period last year. Local sales amounted to 271,741 units, down 20.8 percent, while exports surged 26.2 percent to 792,267 units.

Kia Motors sold 106,112 units in June _ 21,012 units to local customers and 85,100 units to overseas markets. The combined sales rose 32.6 percent from a year ago and 18.6 percent from May.

Kia’s local figure plummeted 17.9 percent year-on-year, while the offshore figure soared 56.2 percent.

For the first six months, Kia has retailed 175,398 units in the domestic market, down 28.9 percent. In contrast, its exports skyrocketed 39.8 percent to 406,602 units, pulling up the combined sales by 13.9 percent to 531,290 units in the six-month period.

GM Daewoo Auto & Technology said its sales last month amounted to 76,681 units in June, jumping 61.5 percent from a year ago, despite a 26.1 percent decrement in the domestic market. It shipped 68,634 units to abroad, up 87.5 percent.

As for cumulate sales for the first half, GM Daewoo registered 429,883 units, jumping 91.4 percent. Exports surged 152.4 percent, but local sales shrank 30.9 percent.

Ssangyong Motors sold 9,637 units locally and 3,798 units overseas last month. The total monthly sales rose 3.3 percent from a year ago, despite a year-on-year 11.2-percent decline in domestic sales. Exports burgeoned by 78.8 percent from a year ago.

In the first six months, Ssangyong’s sales totaled 69,129 units, down 16.1 percent on-year. Local sales contracted 25.5 percent to 54,206 units, while exports expanded 54.8 percent.

Renault Samsung Motors marked a 10.5-percent decline to 6,834 units in sales in June, with a 310.6-percent rise in exports and a 13.3-percent decrement in domestic performance.

From Jan. to Jun., it has retailed 40,291 units, down 32.1 percent over a year ago. Exports rise 199.4 percent, while local sales shrank 33.3 percent.

- Source from The Korea Times (Jul 01, 2004) -