Hyundai posts double-digit fall in global car sales

Indo Asian News Service

Seoul, May 2 (IANS) Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China, the world's largest automobile market, industry data showed on Tuesday.

The country's biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364,225 units and 209,832 units respectively in global auto sales in April, down 11.7 per cent and 13.2 per cent from a year earlier, Xinhua news agency reported.

Hyundai's car sales in the domestic market rose 1.5 per cent, but overseas sales tumbled 13.9 per cent. As for Kia, both local and overseas sales declined last month.

Weak demand for South Korean cars in China was attributable to the slump. In March, the combined car sales by Hyundai and Kia plunged 52.2 per cent in China on a yearly basis.

China is the biggest market for the South Korean companies. About a quarter of total auto sales of Hyundai and Kia in 2016 were in China.

GM Korea's global sales reduced 2.8 per cent, while those for Ssangyong Motor dropped 17.8 per cent.

Only Renault Samsung posted a growth by selling 22,444 vehicles globally in April, that was up 2.1 per cent from a year ago.