South Korea’s major car manufacturers reported sales of 116,270 units in January, up by 16pc from the prior year. January last year was a week month amid seasonal slowdown in sales.
Domestic sales in South Korea was strong on the back of newer models and strong pipeline of car models from leading manufacturers.
In January, Hyundai’s sales rose 25pc to 59,501 unit while Kia Motor’s sales rose 12pc to 41,481 units in the same month compared to the previous. GM Korea’s sales rose 20pc to 6,106 units and Ssangyong’s sales rose 1.6pc to 5,648 units. Renault-Samsung’s sales were lower than the previous year by 18pc at 3,534, the only company to have reported a drop in sales.
Overseas sales increased 6pc to 480,943 units in January from the prior year. Sales to China, Russia and Americas were strong in January which offset weaker sales to Europe. A sharp rise in COVID-19 cases and re-imposition of lockdowns which led to sluggish demand in Europe.