1
P P r r e e s s s s R R e e l l e e a a s s e e
Ministry of Knowledge Economy
November 14, 2011
MKE Releases Car Sales Figures for October
The Ministry of Knowledge Economy has released its car sales figures for October. Thanks to steady exports Korea produced 414,574 vehicles, a 7.1 percent year-on-year increase. This was achieved despite unfavorable consumer sentiment and rising oil prices, which depressed domestic sales 8.8 percent to 121,564 vehicles. Sales of imported cars continued to grow, albeit at a slower pace of 8.9 percent year on year to 8,234 vehicles. Even amid uncertainty over the global economy, exports saw an 8.5 percent increase to 274,978—attesting to improved competitiveness, greater brand awareness, and the positive effects of the Korea-EU FTA.
October
2011 Month-on-Month Growth
Year-on- Year Growth
First 10 Months No. of vehicles
produced 414,574 10.8 percent 7.1 percent 3,803,397 (9.1%) No. of vehicles
sold on the domestic market
129,798 -3.9 percent -7.9 percent 1,316,271 (10.1%) Domestic
cars 121,564 -2.8 percent -8.8 percent 1,228,343 (2.8%) Imported
Cars 8,234 -18.1 percent 8.9 percent 87,928 (18.9%) No. of vehicles
exported 274,978 9.9 percent 8.5 percent 2,548,187 (13.1%) - Year-on-year growth rates shown in parentheses.
- Sources: Korea Automobile Manufacturers Association, Korea Automobile Importers and Distributors Association
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Production of Domestic Vehicles for October
No. of CarsProduced
No. of Cars Produced in
First 10 Months
Month-on-
Month Growth Year-on-Year Growth
Hyundai 182,691 1,532,428
(40.3%) 20.3% 12.3%
Kia 127,934 1,276,313
(33.6%) 5.0% 0.2%
GM Korea 73,451 667,318
(17.5%) 11.1% 13.0%
Renault
Samsung 19,194 219,410
(5.8%) -16.8% -19.4%
Ssangyong 10,086 97,106
(2.6%) 0.0% 36.0%
Total sales 414,574 3,803,397
(100%) 10.8% 7.1%
- Percentage of total production shown in parentheses.
- Source: Korea Automobile Manufacturer Association
Exports of Domestic Vehicles for October
No. of CarsExported
No. of Cars Exported in
First 10 Months
Month-on- Month Growth
Year-on-Year Growth Hyundai 114,454 954,809
(37.5%) 20.3% 17.5%
Kia 82,208 862,483
(33.8%) 1.5% -3.2%
GM Korea 58,075 543,972
(21.3%) 7.0% 8.0%
Renault
Samsung 12,908 121,304
(4.8%) 1.5% 2.7%
Ssangyong 7,114 62,449
(2.5%) 9.4% 58.4%
Total sales 274,978 2,548,187
(100%) 9.9% 8.5%
- Percentage of total production shown in parentheses.
- Source: Korea Automobile Manufacturers Association
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Sales of Domestic and Imported Cars
No. of Cars Sold
Percentage of Total Sales
Month-on- Month Growth
Year-on-Year Growth
Total 129,798 100% -3.9% -7.9%
Domestic
Cars 121,564 93.7% -2.8% -8.8%
Hyundai 58,886 45.4% 4.7% -6.0%
Kia 41,302 31.8% -1.5% -4.3%
GM Korea 11,056 8.5% -5.9% -4.6%
Renault
Samsung 7,743 6.0% -31.0% -37.6%
Ssangyong 2,011 1.5% -33.0% -31.9%
Imported
Cars 8,234 6.3% -18.1% 8.9%
BMW 1,835 1.4% -14.7% 7.6%
Mercedes-
Benz 1,333 1.0% -33.8% 20.4%
Volkswagen 982 0.8% -29.0% 3.2%
Audi 880 0.7% -25.0% 24.3%
Nissan 496 0.4% -17.9% 105.0%
Ford 488 0.4% 42.3% 56.4%
Toyota 327 0.3% -17.4% -36.4%
Lexus 322 0.2% 8.1% -19.9%
Mini 311 0.2% 1.0% 84.0%
Chrysler 272 0.2% -10.5% 18.3%
- Sources: Korea Automobile Manufacturers Association, Korea Automobile Importers and Distributors Association
