BUSINESS S.Korean automakers' global car sale falls 12.4 pct in 2020

BUSINESS

S.Korean automakers' global car sale falls 12.4 pct in 2020

Xinhua

17:15, January 04, 2021

SEOUL, Jan. 4 (Xinhua) -- South Korean automakers' global car sale posted a double-digit fall last year due to weak global demand, caused by the COVID-19 pandemic, industry data showed Monday.

Photo: Agencies

Five local carmakers, including Hyundai, Kia, GM Korea, Renault Samsung and Sssangyong, sold a total of 6,942,886 vehicles in 2020, down 12.4 percent from the previous year.

The number of vehicles sold at home increased 4.8 percent over the year to 1,607,035 last year owing to temporary tax cut for car purchase as well as the launch of new models.

Automotive export by the five automakers tumbled 16.5 percent to 5,335,851 units amid an economic fallout from the pandemic.

The country's biggest automaker Hyundai Motor sold 787,854 vehicles at home and 2,955,660 units overseas each in 2020. Hyundai's domestic car sale expanded 6.2 percent, but its automotive export plunged 19.8 percent.

Kia Motors, affiliated with Hyundai, sold 552,400 units at home and 2,054,937 units abroad respectively last year. Its local car sale gained 6.2 percent, but the auto export reduced 8.7 percent.

Ssangyong's global car sale dropped 20.6 percent in 2020 from a year earlier, while those for GM Korea and Renault Samsung retreated 11.7 percent and 34.5 percent respectively.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue