Automotive Dealer - South Korea new car sales march 2012 ; South Korea’s automobile sales jumped 14.1% in Q-1 from a year earlier as weak domestic demand was offset by brisk sales in overseas markets, local carmakers said Monday.
Global car sales by the nation’s 5 automakers, including Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and Ssangyong Motor, reached 2,035,317 vehicles during the January- March period, up 14.1% over the same period of last year.
Domestic sales by the 5 carmakers shrank 7.3% on-year to 329,522 units in the first quarter due to weak demand caused by higher oil prices, but overseas sales, including cars exported from South Korea and vehicles assembled in overseas plants, expanded 19.5% to 1,705,795 units.
By company, global car sales by Hyundai Motor (PK:HYMTF) reached 1,066,660 vehicles in Q-1, up 16.4% from a year before. Local sales contracted 7.1% to 154,885 units over the cited period, but exports surged 21.6% to 911,805 units.
Global sales by Kia Motors (PK:KIMTF) came in at 691,691 units in the 3 months ended 31 March, + 11.7% from the same period of last year. Domestic sales retreated 7.4% to 116,272 units over the cited period, but overseas sales rose16.6% to 575,419 units.
GM Korea logged sales growth both at home and abroad. Global sales by the South Korean unit of General Motor (NYSE:GM) came in at 206,167 vehicles in the first quarter, up 30.2% from the previous year. Domestic sales jumped 28.2% to 31,842 units, with exports growing 30.6% to 174,325 units.
Global sales by Ssangyong Motor (N/A) grew 6.9% on-year to 26, 441 units in Q-1, but those by Renault Samsung Motors fell 30.4% to 44,358 vehicles. Renault Samsung’s (PK:RNSDF) domestic sales tumbled 40.8% to 16,853 units over the cited period, and overseas sales also fell 22% to 27,505 units.
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