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Global car sales by South Korean automakers post double-digit fall

Staff Writer | May 2, 2017
Global car sales by South Korean automakers posted a double-digit fall in April due to weak demand from China, the world's largest automobile market, industry data showed.
South Korea car factory
Auto industry   Weak demand for South Korean cars in China
The country's biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364,225 units and 209,832 units respectively in global auto sales in April, down 11.7 percent and 13.2 percent from a year earlier.

Hyundai's car sales in the domestic market rose 1.5 percent, but overseas sales tumbled 13.9 percent. As for Kia, both local and overseas sales declined last month.

Weak demand for South Korean cars in China was attributable to the slump. In March, the combined car sales by Hyundai and Kia plunged 52.2 percent in China on a yearly basis.

China is the biggest market for the South Korean companies. About a quarter of total auto sales by Hyundai and Kia in 2016 stemmed from China.

GM Korea's global sales reduced 2.8 percent, while those for Ssangyong Motor dropped 17.8 percent.

Only Renault Samsung posted a growth by selling 22,444 vehicles globally in April that was up 2.1 percent from a year ago.


 

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