Domestic automakers struggle in NovemberKorean vehicle sales remained weak last month, suffering a 1.9 percent on-year decline amid a slump at home and abroad, industry data showed Monday.
The country’s five carmakers - Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and SsangYong Motor - sold a combined 707,009 vehicles in November, compared with 720,706 units a year earlier, according to the companies’ monthly sales data.
The weak sales were mainly driven by lower demand in China and emerging markets amid uncertainties over a yearlong trade battle between the United States and China - the world’s two biggest automobile markets.
Domestic sales declined 2.5 percent to 136,414 units last month from 139,862 a year ago, and overseas sales decreased 1.8 percent to 570,595 autos from 580,844 over the cited period.
Hyundai and Kia, the country’s two biggest carmakers by sales, reported no significant rebound in sales last month due to weak sales in China, the world’s biggest automobile market.
Hyundai’s sales fell 2.8 percent to 392,247 units last month from 403,368 a year earlier. On the other hand, sales at its smaller affiliate, Kia, rose 0.8 percent to 248,942 from 246,942 during the same period.
The two sold a combined 6.57 million units from January to November, down 2.7 percent from 6.75 million units in the year-ago period, the data showed.
More in Industry
SK Telcom merges two security services subsidiaries
KDB requests sit-down with Asiana unions about takeover
Are you Taycan to me?
Facebook hit with $6 million penalty for customer data leak
Spinoff to give LG chairman's uncle his own conglomerate