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S. Korean Automakers' Car Sales Fall 10% in March

Written: 2022-04-01 19:25:22Updated: 2022-04-01 19:26:48

S. Korean Automakers' Car Sales Fall 10% in March

Photo : YONHAP News

South Korean automakers' sales fell nearly ten percent last month from a year earlier due to protracted disruptions in the supply of semiconductors used in vehicles. 

According to data by five automakers of Hyundai Motor, Kia, GM Korea, Renault Korea Motors and SsangYong Motor on Friday, their combined sales were tallied at 639-thousand-374 vehicles in March, down nine-point-eight percent from a year earlier. 

Renault and SsangYong posted on-year growth in March, but automakers' combined sales declined as Hyundai and its affiliate Kia, the top two players in the the local market, saw a slump in sales. 

Their combined sales in the first quarter also slipped by five-point-three percent on-year to one-point-79 million units.

In particular, their domestic sales plunged to 308-thousand-298 vehicles during the January-March period, the lowest quarterly figure since the first quarter in 2009. 

In March, domestic sales plunged 21-point-two percent on-year, while overseas sales dropped seven-point-one percent.

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