February new vehicle sales in South Korea stood at 101,735 units, up by 23.9pc from the same month in 2020, according to data released by the Korea Automobile Manufacturers Association (KAMA). The association states auto sales grew in February despite the COVID-19 pandemic and fewer working days.
Hyundai’s sales in the month grew by 32.6pc from a year ago, while Kia’s sales rose by 31pc from Feb 2020.
Sales by GM Korea and Renault Samsung increased by 2.4pc and 6.2pc, respectively. SsangYong’s sales in February fell by 47.6pc from the prior year.
In February, the RV sales increased by 45.3pc, accounting for 55pc of the total monthly sales. Domestic electric vehicle (EV) sales fell by 13.3pc from a year ago.
The country’s auto exports in February rose by 35pc to 161,886 units from 2020 driven by a recovery in demand in the United States, Europe among others.
South Korea’s auto production in February 2021 stood at 260,958 units, up by 37.9pc as compared to the same month in the year before.