South Korean car makers Feb sales up 4.3 pct y/y
SEOUL, March 3 (Reuters) - The combined sales of South
Korea’s automakers grew 4.3 percent in February from a year
earlier, helped by a healthy sales of the country’s top two car
producers, data showed on Monday.
Hyundai Motor Co (005380.KS: Quote, Profile, Research) and the country’s four other
auto companies sold 387,195 vehicles in February, compared to
371,413 units a year ago and 479,005 in January.
Their overseas sales increased 4.7 percent to 295,957
vehicles in February from a year earlier and local sales gained
2.9 percent to 91,238 units.
Auto exports, which account for 10 percent of all South
Korean exports, in February rose an estimated 3.4 percent in
value from a year ago, the Ministry of Knowledge Economy data
showed.
Hyundai, South Korea’s top auto maker, sold 209,937 units,
12.1 percent more than a year earlier, helped by its recently
launched Genesis sedan.
Sales of Kia Motors Corp (000270.KS: Quote, Profile, Research), Hyundai’s affiliate,
rose 2.2 percent to 99,034 vehicles, as its revamped Morning
minicar lured more customers to showrooms amid higher oil prices.
But sales from other auto makers such as GM Daewoo Automotive
and Technology Co fell amid fewer working days due to longer
Lunar New Year holidays this year than in 2007.
South Korean car makers’ sales in February:
Total Change vs Overseas Change vs
sales yr ago sales yr ago
Hyundai Motor 209,937 +12.1 162,168 +12.8
Kia Motors 99,034 +2.2 74,976 -0.7
GM Daewoo (GM.N: Quote, Profile, Research) 61,176 -2.4 52,100 -0.8
Renault Samsung (RENA.PA: Quote, Profile, Research) 9,316 -34.9 2,286 -58.0
Ssangyong Motor 032660.KS 7,732 -24.4 4,427 -18.4
—————————————————————-
Total 387,195 +4.25 295,957 +4.67
(Reporting by Cheon Jong-woo and Lee Jiyeon; Editing by Keiron
Henderson)
