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S. Korean automakers' global car sale posts double-digit fall in March

SEOUL
2021-04-01 15:40

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SEOUL, April 1 (Xinhua) -- South Korean automakers' global car sale posted a double-digit fall last month owing to weak overseas demand, industry data showed Thursday.

The number of vehicles, sold globally by five local carmakers that include Hyundai, Kia, GM Korea, Renault Samsung and Ssangyong, totaled 597,826 in March, down 14.9 percent from the same month of last year.

Vehicle sale in the domestic market increased on the back of the temporary cut in consumption tax and the launch of new models, but overseas automotive sale declined amid the lingering fallout from the COVID-19 pandemic.

Global car sale by the country's biggest automaker Hyundai Motor tumbled 20.9 percent in March from a year ago. The company's domestic vehicle sale rose 3.0 percent, but its overseas sale dropped 26.2 percent.

Kia Motors, affiliated with Hyundai, saw its local car sale jump 15.3 percent in March on a yearly basis, but the sale in the overseas market contracted 11.2 percent.

GM Korea's domestic vehicle sale surged 39.6 percent last month, but its car export slumped over 20 percent.

Renault Samsung's car sale in the local market almost doubled, but its automotive export remained sluggish.

Ssangyong Motor's automotive sale recorded the falls of 37.5 percent at home and 4.6 percent overseas respectively.
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