S. Korea auto sales jump on strong overseas demand

SEOUL -- South Korea's automobile sales jumped in January from a year earlier thanks to strong overseas demand for locally-made models, industry data showed Friday.

File photo of the logo of Hyundai Motor seen on a car displayed at a Hyundai dealership in Seoul. Global car sales by the No 1 automaker in South Korea, increased 11.1 percent year-on-year to 50,211 units in January. [Photo / Reuters]

Global auto sales by the nation's five carmakers, including Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and Ssangyong Motor, reached 756,255 vehicles in January, up 22.2 percent from a year earlier.

Overseas sales led the January growth. Sales, including cars exported from South Korean factories and vehicles assembled in overseas plants, expanded 24.8 percent in January from a year before to 651,878 units. Domestic car sales increased 8.2 percent.

A positive base effect from more working days contributed to brisk auto sales. The January 2013 had more business days than in 2012 when the Lunar New Year holiday fell in January. In 2013, the holiday falls in February.

Global car sales by Hyundai Motor, the country's No 1 automaker, increased 11.1 percent year-on-year to 50,211 units in January, and those by its affiliate Kia Motors grew 6 percent to 36,250 vehicles.

GM Korea, the South Korean unit of General Motors saw its global sales rise 24.7 percent in January from a year before, and those by Ssangyong Motor surged 43.9 percent.