Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Major auto manufacturers of South Korea reported a combined decline of 8pc to 133,061 units in December compared to the prior year period. These figures are only conclusive of sales reported by Korea’s Hyundai Motor, Kia Motors, GM Korea, Ssangyong and Renault-Samsung.


Total domestic unit sales for the five companies was reported at 4.9pc to 1.60mn units from the year prior. South Korean markets have fully revived from the sharp decline in the first quarter hit by the COVID-19 pandemic. 


Hyundai Motor’s global sales have dipped 6.4pc to 373,970 units from December last year. The company has now set its global target at 4.16mn units, up 11pc from the prior year. Domestic sales were up 3pc to 68,486 units from the prior year. 


Kia Motors’ domestic sales fell by 21pc to 38,857 units in December but total sales is up 2pc from the year prior to 218,256 units. 


GM Korea’s total sales were up 20pc to 46,717 units in December from a year ago followed by strong industrial action in December which lifted both domestic and overseas sales. In 2020, sales were down by 12pc to 368,453 units from a year ago. 


Ssangyong Motor reported a drop of 18pc in global sales to 10,561 units in December while domestic sales were down by 20pc to 8,449 units. The company declared bankruptcy at the end of December when production was also hurt. Consumers lost confidence in the brand which led to suppliers refusing to deliver components to the company.


Renault-Samsung, global sales fell 47pc to 9,016 units in December after domestic and overseas sales fell sharply. Domestic sales slipped 20pc to 8,010 units while exports plunged by 86pc to 1,006 units in December. 


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