TapTechNews August 5th news, Yonhap reported that according to the sales performance released by South Korea's five major automakers (TapTechNews note: Hyundai, Kia, GM Korea, KGM, Renault Korea), the total global sales (including complete knockdown assembly) of Korean-made cars in July decreased by 2.2% year-on-year to 658,297 units, with a consecutive three-month year-on-year decline.
The sales of South Korea's five major automakers in the South Korean local market have experienced negative growth for six consecutive months, with a year-on-year decrease of 4.1% to 110,152 units that month; overseas sales decreased by 1.8% year-on-year to 548,145 units. The report said this was mainly affected by factors such as the temporary stagnation of the electric vehicle market demand in Europe and the Asia-Pacific region, resulting in a reduction in export shipments.
According to the automakers, Hyundai sold a total of 332,003 units, a year-on-year decrease of 1.4%; Kia sold 261,334 units, a year-on-year increase of 0.2%; GM Korea sold 51,200 units, a year-on-year decrease of 14.8%; KGM (formerly SsangYong Motors) sold 8,313 units, a year-on-year decrease of 23.4%; Renault Korea sold 5,447 units, a year-on-year increase of 12.7%.
In the South Korean local market, the top three best-selling models are Kia Sorento (7,596 units), Kia Carnival (7,050 units), and Hyundai Grandeur (6,287 units).