Korean automakers' global car sale tumbles 36.3 percent in MayChristian Fernsby ▼ | June 1, 2020
South Korean automakers' global car sale tumbled in double digits in May due to an economic fallout from the coronavirus outbreak across the world, industry data showed Monday.
Double digits South Korea street
In the domestic market, the vehicle sale grew on the back of a temporary tax cut for car purchase and the launch of new models, but overseas car sale plunged owing to the COVID-19 effect.
The car sale by Hyundai Motor, the country's biggest automaker, dived 39.3 percent over the year to 217,510 units in May. Local sale grew 4.5 percent to 70,810 units, but overseas sale plunged 49.6 percent to 146,700 units.
Kia Motors, affiliated with Hyundai, sold a total of 160,913 vehicles, including 51,181 vehicles at home and 109,732 units overseas, in May. The local car sale advanced 19 percent, but the overseas sale dropped 44 percent.
Renault Samsung's domestic car sale jumped 72.4 percent thanks to the launch of a new model, but its export sank 83.2 percent.
The vehicle sale both at home and abroad by GM Korea and Ssangyong declined last month. ■