South Korea’s August auto sales hit 19-month low

Sales from automakers in South Korea hit a 19-month low in August, according to South Korean news reports quoted by China’s Ministry of Commerce on Wednesday September 5.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Volume fell 7% year-on-year to total 550,213 automobiles.

Domestic sales totalled 85,543 units, down 24.8% year-on-year, while sales overseas were down 2.8% to 464,670 units.

The lower sales volume was due to global economic uncertainties, weakened domestic demand in South Korea, lower auto production due to the holiday season and strikes, limited number of new cars released and adverse weather including typhoon, the report said.

Hyundai sold 293,924 cars in August, down 4.6% year-on-year, while Kia Motors sold 190,904 automobiles, down 0.5%.

GM Korea sold 17% fewer units at 45,167 while Renault Samsung Motors was down 0.5% at 11,082 automobiles.

Ssangyong Motor sold 9,136 automobiles, down 9.5%.

What to read next
Fastmarkets has decided to proceed with the launch of a new European low carbon ferro-chrome price covering material with lower chrome content.
Fastmarkets invites feedback on a proposal to increase the publication frequency of non-exchange-deliverable equivalent-grade (EQ) copper cathode premium, cif Shanghai, from once every two weeks to once every week.
The outlook for North American steel scrap prices has headed further into bearish territory ahead of June’s trade, with prices for all grades expected to fall again after a round of across-the-board decreases in May
Fastmarkets is inviting feedback on a change of publishing time for our ferro-chrome price in the Chinese domestic market as well as ferro-chrome import prices in Japan and South Korea, to 5-6pm Shanghai time from 2-3pm London time.
Fastmarkets is inviting feedback on a proposal change the publishing time for our silico-manganese, ferro-manganese and manganese ore port prices in China, to 5-6pm Shanghai time from 2-3pm London time.
The publication of Fastmarkets copper concentrates TC index, cif Asia Pacific was delayed on Friday March 26, due to a reporter error.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed