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Biz News Korea(Eng)
Strike-ridden Hyundai, Kia car sales tumble in October, smaller brands fared strong
- Collected
- 2016.11.02
- Distributed
- 2016.11.03
- Source
- Go Direct
Hyundai Motor said on Tuesday said its October car sales fell 10.1 percent from a year ago to 411,499 units - 47,186 units in domestic shipment and 364,313 units in exports. Domestic car sales slid 30.4 percent from a year ago against strong demand from consumption tax benefits and the release of the New Avante.
A Hyundai Motor official said shipments were on rebound now that labor disputes have been solved.
Kia Motors sold 259,243 cars in October - 40,034 cars domestically and 219,209 cars globally - down 3.6 percent from a year earlier. Domestic sales tumbled 14.1 percent due to the same reasons as Hyundai Motor’s.
The smaller peers benefited from the setback by their bigger rivals. GM Korea Co.’s sales gained 14 percent on year to 16,736 cars last month, its highest monthly achievement to date. Renault Samsung Motors Co. sold 13,254 units, its best performance in six years and four month.
By Lee Seung-hoon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]