Auto sales in South Korea rise

South Korea auto

February 2012 was a good month for car sales in South Korea, and figures have now been released that report a rise of 28.8 percent. This percentage is the result of the on-year jump that sales have seen, which is the result of a consistent rise in sales both at home and further afield. This recently released data is the combination of figures from five car manufacturers, with Hyundai at the top, and the others being Ssangyong Motor Co. Kia Motors Corp., Renault Samsung Motors Co. and GM Korea. In February, the combined sales of all five reached an impressive total of 689,915 vehicles, which is a significant increase from the 537,631 units that were sold a year ago.

Another area where we can see the increase clearly is that of overseas sales. The number of cars exported from South Korea combines with those assembled at design plants abroad to make a total of 577,010 units, which is a significant increase from the 430,697 that had been reached a year ago. Clearly, more people are buying from these manufacturers, happy to own a South Korean car and protect it with someone like RAC Car Insurance . There has also been a rise in domestic shipments, which continues the good news for car manufacturers in South Korea. February saw a combined total of 112,905, which means that this figure has gone up by 5.6 per cent on-year.

This is a good sign for the automobile market in South Korea, as a steady rise is what is important. Many people believe that there is fierce competition on the horizon for car makers, however with these statistics it looks as though South Korean companies will be able to ride the storm out and continue to see high demand for their products.

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