Automobile Industry Hampered by Semiconductors... Domestic Sales Decline for 11 Consecutive Months (Comprehensive)

Five Completed Vehicle Manufacturers, Domestic and Overseas Sales 562,000 Units
8% Decrease Compared to January Last Year
Exports Decline for 7 Months, Domestic Sales Decline for 11 Months Consecutively

Hyundai Motor Ulsan Plant Export Shipping Wharf Nearby Yard

[Asia Economy Reporter Choi Dae-yeol] The domestic automakers, struggling with supply shortages of parts such as automotive semiconductors, saw their sales performance decline last month. While Hyundai Motor, Kia, GM Korea, and SsangYong Motor experienced decreases compared to January last year, only Renault Samsung Motors saw increases in both domestic and export sales.

According to the sales figures announced by each company on the 4th, the global sales of the five domestic automakers totaled 562,484 units. This represents about an 8% decrease compared to the same period last year. The decline in performance compared to the previous year has continued for seven consecutive months since July last year. Domestic sales were 93,900 units, down about 19% during the same period. Domestic sales have been declining for 11 consecutive months. Overseas sales decreased by about 6%, totaling 498,584 units.

By company, Kia, which announced its performance on this day, sold 212,819 units domestically and internationally last month. This is a 5.7% decrease compared to the same period last year. Domestic sales were 37,038 units, down 5.7% from the same month last year. Overseas sales were 175,781 units, down 4.6%. This was due to production disruptions caused by the semiconductor parts supply shortage. However, the company explained that the semiconductor parts supply issue is gradually improving, as production and sales increased compared to the previous month, December last year.

A company official said, "Uncertainty in management continues due to semiconductor parts supply disruptions," adding, "We will minimize the impact on supply delays by adjusting vehicle production schedules."

Hyundai Motor, which announced its results the previous day, sold a total of 282,204 units worldwide, including 46,205 units domestically and 235,999 units overseas. Compared to the same period last year, domestic sales decreased by 22.3%, and overseas sales decreased by 9.8%.

GM Korea sold 12,911 units domestically and internationally last month, down 64% compared to January last year. Domestic sales were 1,344 units, down 78% during the same period, and exports were 11,567 units, down 62%. The company explained, "We conducted facility investment construction at the Bupyeong and Changwon plants for global new product production, and overall sales declined due to production restrictions caused by the global shortage of automotive semiconductor chips."

SsangYong Motor recorded sales of 7,600 units, down about 12% during the same period. Domestic sales were 4,836 units, down 14%, and exports were 2,764 units, down about 9%. The company also reported that although orders are backed up for 2 to 3 months, sales performance could not be supported due to unstable parts supply.

On the other hand, Renault Samsung Motors’ sales last month reached 13,314 units, an increase of about 116% compared to a year ago. Export volume was 8,837 units, more than tripling compared to January last year, driving overall growth. The compact sport utility vehicle (SUV) XM3 (export name Renault New Arkana) accounted for a large portion with 7,747 units. Domestic sales were 4,477 units, up about 26.7% compared to a year earlier.

This content was produced with the assistance of AI translation services.