S. Korean automakers` output soars 21.3 pct in August

SEOUL, Sept. 5 (Yonhap) -- Production by South Korea's five automakers rose 21.3
percent on-year in August on growing demand both at home and abroad, an industry
body said Sunday.
The carmakers, led by Hyundai Motor Co. and its affiliate Kia Motors Corp.,
produced 282,020 vehicles last month, compared to 232,552 during the same period
last year, according to the Korea Automobile Manufacturers Association (KAMA).
August marked the 10th consecutive month the automakers' output increased from a
year earlier.
"Domestic sales jumped 20.7 percent on-year to 110,438 units in August due to the
introduction of new vehicles and improving consumer sentiment amid an economic
recovery," the association said in a press release.
Exports surged 32.5 percent on-year to 187,146 units, it said. The automakers
said earlier this week that they sold a total of 307,019 vehicles in overseas
markets last month, but the number also includes vehicles produced at overseas
plants.
The automakers also include Renault Samsung Motors Co., the South Korean unit of
French automaker Renault SA, GM Daewoo Auto & Technology, the South Korean unit
of U.S. automaker General Motors Co., and Ssangyong Motor Co.
In the first eight months of the year, their combined automobile production came
to 2,759,225 units, up 33.1 percent from 2,072,447 a year earlier, according to
the association.
The top-selling model in the local market was Hyundai's new compact sedan Avante
MD, with 9,122 units sold since its Aug. 23 launch, trailed by Kia's new midsize
sedan K5 with 8,082 units.
bdk@yna.co.kr
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