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P P r r e e s s s s R R e e l l e e a a se s e
Ministry of Knowledge Economy June 14, 2011
MKE Releases Car Sales Figures for May
The Ministry of Knowledge Economy has released its car sales figures for May.
Production, exports and sales of both domestic and imported cars displayed brisk year-on-year growth, partly due to fresh demand for new models and consumer preference for efficient smaller cars.
On the back of continued robust exports, Korea produced 388,666 vehicles, a 10.5 percent increase from the year before. Domestic sales posted a 4.8 percent increase to 129,315 vehicles. Notably, sales of imported cars reached the second-highest level on record at 8,777 vehicles. Imported cars held a 6.8 percent market share, up from 6.1 percent in April. Korea shipped 261,602 vehicles to other countries, an increase of 10.6 percent.
However, compared with April production, domestic sales and exports all dropped: 1.7 percent, 4.3 percent and 1.7 percent, respectively. The decline was partly the result of shorter working days.
May 2011
Month-on- Month Growth
Year-on- Year Growth
First Five Months No. of vehicles
produced 388,666 -1.7 percent 10.5 percent 1,864,993 (9.2%) No. of vehicles
sold in domestic market
129,315 -4.3 percent 4.8 percent 653,061 (4.7%) Domestic
cars 120,538 -5.1 percent 3.7 percent 610,361 (3.6%) Imported
Cars
8,777 7.0 percent 22 percent 42,700 (24.4%) No. of vehicles
exported 261,602 -1.7 percent 10.6 percent 1,235,595 (15.2%)
- Year-on-year growth rates shown in parentheses
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Production of Domestic Vehicles
No. of Cars Produced
No. of Cars Produced in
First Five Months
Month-on- Month Growth
Year-on-Year Growth
Hyundai 160,772 735,589
(39.4%) - 2.6 percent 10.6 percent
Kia 122,095 641,510
(34.4%) - 4.8 percent 7.6 percent GM Korea 73,439 331,271
(17.8%) 0.0 percent 16.8 percent Renault
Samsung 20,757 105,646
(5.7%) 20.7 percent -8.0 percent Ssangyong 10,317 46,118
(2.5%) 0.3 percent 57.5 percent Total sales 388,666 1,864,993
(100%) - 1.7 percent 10.5 percent
- Percentage of total production shown in parentheses.
- Source: Korea Automobile Manufacturers Association
Exports of Domestic Vehicles No. of Cars
Exported
Percentage of Total Exports
Month-on- Month Growth
Year-on-Year Growth
Hyundai 100,738 36.3 percent - 2.6 percent 4.7 percent
Kia 81,877 35.1 percent - 8.1 percent 16.1 percent GM Korea 60,297 21.8 percent 4.4 percent 8.2 percent
Renault
Samsung 11,612 4.5 percent 25.1 percent 29.7 percent Ssangyong 6,640 2.2 percent 4.8 percent 60.5 percent Total sales 261,602 100 percent - 1.7 percent 10.6 percent
- 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 129,315 100 percent - 4.3 percent 4.8 percent Domestic
Cars 120,538 93.2 percent - 5.1 percent 3.7 percent Hyundai 57,750 44.6 percent - 3.9 percent 17.3 percent
Kia 38,012 29.4 percent - 10.6 percent - 5.0 percent GM Korea 12,403 9.6 percent - 4.6 percent 21.1 percent
Renault
Samsung 8,012 6.2 percent 19.4 percent - 40.7 percent Ssangyong 3,515 2.7 percent - 11.7 percent 29.7 percent Imported
Cars 8,777 6.8 percent 7.0 percent 22 percent BMW 2,014 1.6 percent - 10.6 percent 36.8 percent Mercedes-
Benz 1,449 1.1 percent 8.2 percent 36.3 percent Volkswagen 1,331 1.0 percent 25.3 percent 95.7 percent Audi 846 0.7 percent 13 percent 13.7 percent Mini 839 0.6 percent 173.3 percent 311.3 percent Toyota 341 0.3 percent -15.4 percent -47.4 percent Chrysler 253 0.2 percent 5.0 percent 36.8 percent
Ford 237 0.2 percent - 5.6 percent - 23.8 percent
- Sources: Korea Automobile Manufacturers Association, Korea Automobile Importers and Distributors Association
* Released by the Automobile and Shipbuilding Division
