Five Domestic Car Manufacturers, 576,032 Units in January... Year-on-Year Increase in Domestic Sales and Exports '↑'

[Asia Economy Reporter Yoo Hyun-seok] Domestic sales and overseas sales of the five major automakers in January both increased. This is interpreted as a result of increased sales volume due to the resolution of the semiconductor supply shortage. In particular, although concerns about consumption contraction due to the economic recession continue, it seems that the impact has not yet appeared.

According to the sales performance data announced on the 1st by five automakers including Hyundai Motor Company (Kia, Korea GM, Renault Korea Motors, Ssangyong Motor), the total domestic sales last month were recorded at 100,448 units. This is a 7.11% increase compared to 93,777 units in January last year.

Exports increased even more. The export volume of the five companies was 576,032 units, an 8.74% increase compared to the same month last year (529,720 units).

[Image source=Yonhap News]

The increase in both domestic and overseas volumes appears to be influenced by the recovery of production volume due to the easing of semiconductor supply. Kia explained, "The semiconductor parts supply disruption phenomenon is gradually easing, and supply expansion is continuing due to increased production volume."

By company, Renault Korea experienced decreases in both domestic and export sales, while Korea GM saw a decrease only in domestic sales. Hyundai Motor, Kia, and Ssangyong Motor all showed increases.

The total domestic and overseas sales volume of the five automakers last month was 576,032 units. This is an 8.7% increase compared to the same period last year (529,720 units).

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