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Global sales by S.Korean carmakers fall in 2017 on weak exports&soft demand

​SEOUL
2018-01-03 09:29

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Global car sales by South Korean automakers fell in 2017 on weak exports and soft demand in the local market, industry data showed Tuesday.

Global car sales by Hyundai, Kia, GM Korea, Renault Samsung and Ssangyong totaled 8,196,053 units in 2017, down 6.9 percent from the previous year.

Car sales in the domestic market shed 2.4 percent over the year to 1,550,080 vehicles, while auto exports declined 7.9 percent to 6,645,973 units.

The weak car sales in the domestic market was attributed to the still lackluster domestic economy and soft demand for locally-made automobiles. Car exports also weakened on low demand for South Korean vehicles in the Chinese market.

Top automaker Hyundai Motor saw its global auto sales reach 4,504,825 units in 2017, down 6.5 percent from the previous year. Its affiliate Kia Motors posted 2,746,188 units in sales last year.

Global sales by GM Korea tumbled 12.2 percent to 524,547 units, but the figure for Renault Samsung gained 7.6 percent to 276,808 vehicles.
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