Carmakers boost sales 8.5% in March

Sales of South Korean automakers rose 8.5 percent last month from a year earlier, helped by consumer interest in newly released models and generally strong demand from overseas markets, data showed Tuesday.

Combined sales of five local car manufacturers, including market leader Hyundai Motor Co., reached 788,922 vehicles in March, up from 727,159 units a year ago. The total excludes knockdown kits shipped abroad for assembly.

During the same period, domestic sales rose 2.7 percent to 121,416 units, while overseas sales, which count both exports and cars made in foreign countries, were up 9.6 percent to 667,506 vehicles.

“Popularity of new models like the Genesis premium sedan and QM3 small crossovers, as well as demand for upgrades such as the Grandeur hybrid, all contributed to improved sales figures in the country,” an industry insider said.

He said that for overseas markets, demand for steady sellers like Optima, Sportage R and Korando C, as well as more cars made abroad at assembly lines run by Hyundai and its affiliate Kia Motors Corp. helped push up numbers. (Yonhap)