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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 April 14, 2011
MKE Releases Car Sales Figures for March
The Ministry of Knowledge Economy has released its car sales figures for March.
Vehicle production and exports reached record heights despite the earthquake in Japan. The crisis seems to have had minimal impact on Korean automakers, which had adequate stockpiles of Japanese components. Sales of both domestic and imported cars saw a third consecutive month of positive growth.
Korea produced 395,899 vehicles, a 3.6 percent increase from 2010, on the back of robust exports and strong demand. The popularity of new cars and imported vehicles pushed up domestic sales, which registered a 10.4 percent increase to 144,369 vehicles sold. Korea exported 259,108 vehicles, an increase of 9.7 percent.
Amid rising oil prices, full-sized vehicles (engine capacity of 2,000 cubic centimeters or more) took the largest market share with 20.2 percent or 22,236 vehicles sold. The increase was attributable to strong sales of newly released cars and to a preference for full-sized vehicles among consumers in the middle- and high-income brackets. Changes in oil prices do not seem to have a strong influence over this group’s purchasing decisions.
March 2011
Month-on- Month Growth
Rates
Year-on- Year Growth
Rates
First Three Months No. of vehicles
produced 395,899 33.1 percent 3.6 percent 1,080,942 (10.9%) No. of vehicles
sold in domestic
market 144,369 26.1 percent 10.4 percent 388,572 (5.1%)
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Domestic
cars 134,079 24.5 percent 8.4 percent 362,853 (3.8%) Imported
cars 10,290 52.0 percent 44.9 percent 25,719 (29.1%) No. of vehicles
exported 259,108 31.0 percent 9.7 percent 708,514 (20.6%)
- Year-on-year growth rate growth rates shown in parentheses
Sales of Domestic Full-Sized Cars
Models
No. of Vehicles
Sold
Percentage of Total
Sales
Month-on-Month Growth Rates
Hyundai
Equus 1,558 7 percent 230.1 percent Genesis 2,975 13.3 percent 326.8 percent Grandeur 11,089 49.8 percent - 5.7 percent
Kia K7 3,116 14 percent 131.8 percent
Opirus 642 2.8 percent 28.4 percent GM Korea Alpheon 1,304 5.8 percent 16.7 percent
Renault
Samsung SM7 600 2.6 percent 20.7 percent Ssangyong Chairman 603 2.7 percent 20.6 percent Total sales 22,236 100 percent 30.2 percent
* Released by the Automobile and Shipbuilding Division
