Domestic car monthly sales show new sign of recovery

Korean carmakers saw moderate growth in domestic sales in September, indicating a further sales boom in the fourth quarter following the introduction of new versions of flagship models and the government’s tax cuts.

Hyundai Motor, the nation’s largest auto company, said Thursday it sold a combined 371,743 vehicles at home and abroad last month, a 3.4 percent increase from a year ago.

Driven by strong sales of flagship models such as Sonata, Avante and Grandeur, the carmaker delivered 57,559 units in Korea last month, up 60.1 percent from August and 2.5 percent from a year ago.

“We saw sales growth as we could resolve product shortages,” said a Hyundai official, adding that the growth rate was not so high compared to the company’s previous expectations.

“The government’s tax cuts and the company’s promotional programs would have a greater impact in sales from the fourth quarter.”

Hyundai’s overseas sales also increased 3.6 percent last month to reach 314,184 vehicles, with overseas productions offsetting weak results at domestic factories.

“The global car market is expected to experience one of the worst periods in the latter half. We will step up efforts for product quality and cost-cutting,” said the official.

Over the past nine months, Hyundai sold an accumulated 3,178,228 vehicles in Korea and globally, an 8 percent growth from a year ago.

During the same period, its Korean sales declined 5.8 percent, while overseas deliveries rose 10.9 percent.

Kia Motors, a unit of Hyundai Motor Group, also saw a slight increase of 0.6 percent on-year in overall car sales, selling 214,412 cars in September at home and abroad.

The nation’s second-biggest carmaker sold 39,030 cars in Korea. The figure is a 7 percent decline from a year ago but a 21.7 percent surge compared to August.

Its latest K3 compact, in particular, posted a sales boom, with 3,616 vehicles sold just nine days from its launch on Sept. 17.

The K3, whose Chinese production already started in September, is scheduled to hit the Chinese market within the month.

Kia sold Kia sold 175,382 vehicles in overseas markets, a 2.5 percent increase from last year. Its overseas production also surpassed the 100,000 mark for the first time last month.

Renault Samsung Motors, which carried out a voluntary retirement program last month, also said it sold a total of 11,605 vehicles, including 4,005 in Korea and 7,600 abroad, a 4.7 percent increase from the previous month.

Company officials said the August launch of New SM3 compact and strong sales of QM5 sport utility vehicle in China positively affected the overall sales of the France-based carmaker.

However, the company’s accumulated sales this year were 116,606 units, a 39.7 percent decrease from 193,289 units from the same period last year.

Ssangyong Motor said its September sales increased 11.1 percent last month due to the recovery of production days and the strong sales of refurbished models like Korando Sports.

The carmaker said it delivered 10,147 vehicles, including 4,036 in Korea and 6,111 abroad.

By Lee Ji-yoon (jylee@heraldcorp.com)