Domestic sales of major South Korean car manufacturers increased by 10pc iin July to 144,422 units from the year prior. Companies including Hyundai, Kia, GM Korea, Renault Samsung and Ssangyong (majorly owned by Mahindra and Mahindra) reported improved sales in July.
Domestic auto market which was deeply impacted by COVID-19 improved in July compared to Q1 (April-June). Carmakers and dealers had to shut operations due to the pandemic in Q1.
Hyundai’s car sales in July rose 28pc in July to 77,381 units from the year prior. GM Korea recorded 6,988 units sold, up 3.5pc in July from the prior year. Kia Motors clocked sales at 47,050 units in July, slightly lower by 3pc from the previous year. Renault Samsung’s sales fell by 24pc to 6,301 units while Ssangyong sales dipped 23pc to 6,702 units in July from a year ago.
Hyundai’s overseas sales stood at 235,716 units in July, fell approximately 21pc from prior July. Kia exported 172,851 units, down 3.7pc from the previous year. GM Korea sold 27,644 units in July to overseas markets, marking an increase of 10pc from the prior year. Renault Samsung exported 2,622 units in July, slipped 65pc from July 2019 and Ssangyong sold 787 units outside Korea, down by 62pc from the year prior.