South Korea’s auto sales reboundMarch 2nd, 2012 - 4:38 pm ICT by IANS
Seoul, March 2 (IANS) South Korea’s automobile sales rebounded last month as domestic sales were enhanced amid rising working days, carmakers said Friday.
Global car sales by the nation’s five automakers, including Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and Ssangyong Motor, reached 689,915 vehicles in February, up 28.3 percent from a year earlier. From a month before, global auto sales expanded 11.5 percent, reported Xinhua.
The February rebound came after the sales posted a 1.7 percent on-year contraction in January. The rebound was mainly attributed to a recovery in domestic demand, which drove down car sales the previous month.
Domestic auto sales by the five carmakers came in at 112,905 units in February, up 5.6 percent from the previous year. The Lunar New Year holiday that moved to January this year from February last year raised February’s working days, helping local car sales recover last month.
Overseas sales, including cars exported from South Korea and vehicles assembled in overseas plants, came to 577,010 units in February, up 34 percent from a year earlier. By company, global car sales by Hyundai Motor reached 360,979 vehicles in February, up 28.3 percent from a year earlier. Local sales grew 8.6 percent to 53,647 units, and overseas sales expanded 32.5 percent to 307,332 units.
Global sales by Kia Motors came in at 240,124 units in February, up 35.5 percent from the previous year. Domestic sales increased 2.5 percent to 40,012 units, and overseas sales surged 44.7 percent to 200,112 units.
Meanwhile, sales of GM Korea and Ssangyong Motor expanded 14.7 percent and 30.9 percent each in February on an on-year basis, but those of Renault Samsung Motors contracted 2.4 percent.
- South Korea's auto sales grow - Jul 02, 2012
- South Korea's auto sales tumble - Sep 03, 2012
- South Korean auto production grows - Jun 12, 2012
- South Korea's auto production plunges - Sep 09, 2012
- South Korean carmakers' exports hit record high - Apr 09, 2012
- South Korea's auto production grows - Jul 10, 2012
- South Korea's retail sales grow in December - Jan 18, 2012
- Ruia Group to bid for south Korean SsangYong Motor - Aug 08, 2010
- Hyundai Motor posts $2 bn operating profit in Q1 - Apr 26, 2012
- Mahindra to sell 120,000 SsangYong cars globally this year - Jun 22, 2011
- Indian utility vehicle maker prime bidder for Ssangyong - Aug 12, 2010
- South Korean automakers' exports to slow down in 2012 - Dec 08, 2011
- Renault to increase prices of Koleos - Dec 14, 2011
- Auto companies report healthy sales number for February (Roundup) - Mar 01, 2012
- Hyundai's February sales down 4.8 percent - Mar 01, 2011
Tags: auto sales, automakers, automobile sales, car sales, contraction, domestic auto, global auto, global car, global sales, hyundai motor, kia motors, local sales, lunar new year, previous year, rebound, samsung motors, seoul, south korea, ssangyong motor, xinhua