S. Korean automakers post 14.4% growth in car sales in May

16:52, June 01, 2011      

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South Korea's five automakers said Wednesday their car sales grew 14.4 percent in May from a year earlier due to solid demand at home and abroad.

Five local carmakers, including Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and Ssangyong Motor, sold combined 637,840 vehicles in May globally, up 14.4 percent from a year earlier.

Combined domestic sales of domestic automakers rose 3.4 percent on-year to 119,692 units in May, with exports jumping 17.3 percent on-year to 518,148.

Domestic sales and exports, however, decreased 5.2 percent and 0.6 percent each in May from a month earlier.

Top player Hyundai maintained its leading position by selling 339,205 units globally in May. Domestic sales grew 17.3 percent on- year to 57,750 units, with overseas shipments increasing 12.8 percent on-year to 281,455 vehicles.

Global sales in Kia reached 197,359 units in May, up 21.7 percent from the previous year. Local shipments contracted 5 percent on-year to 38,012 units in May, but exports jumped by 30.5 percent, resulting in strong overall sales.

GM Korea's overall sales came in at 71,497 units in May, up 6 percent from a year earlier. The local unit of the U.S. General Motors sold 12,403 vehicles at home and 59,094 abroad each in May.

Sales of Renault Samsung at home and abroad contracted 12.6 percent on-year to 19,624 units in May, but grew by 22.7 percent from a month before.

Ssangyong Motor sold globally 10,425 units in May, with domestic sales and exports reaching 3,515 and 6,910 units respectively. Global sales soared by 48.3 percent in May from a year earlier.

Source: Xinhua
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