S. Korean auto sales jump 64 pct in January amid signs of recovery

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SEOUL, Feb. 1 (Yonhap) -- South Korean auto sales jumped 64 percent in January
from a year ago, the latest sign that the nation's automakers are emerging from
the global auto industry's worst downturn in decades, according to data released
Monday.

The nation's five carmakers, led by Hyundai Motor Co. and its affiliate Kia
Motors Corp., sold a total of 512,457 units last month, compared with 312,528
units sold in the same period a year earlier, when auto sales plunged amid the
global financial crisis.
With an economic recovery taking root in South Korea, auto sales at home soared
61.6 percent to 118,862 units last month. Overseas sales also jumped 64.7 percent
to 393,595 units.
Hyundai, the nation's top carmaker, sold 269,841 units in January, up 50.4
percent from a year ago.
Domestic sales soared 68.9 percent to 59,774 units and overseas sales surged 45.9
percent to 210,067 units, Hyundai said in a regulatory filing.
"Competition is expected to heat up this year after the crisis last year," said
an official at Hyundai. "We will make major efforts to become one of leading
automakers this year."
Kia saw its sales more than double last month to 163,238 units.
GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Co.,
said it sold 56,281 units last month, up 22.5 percent from a year earlier, thanks
to a turnaround in overseas demand.
"Global vehicle sales have shown obvious signs of recovery since the beginning of
the new year," said Rick LaBelle, vice president of GM Daewoo, in a statement.
Renault Samsung Motors Co., the local unit of French automaker Renault SA, sold
18,676 vehicles last month, up 65.6 percent from a year ago.
Ssangyong Motor Co., which has been under bankruptcy protection since February
last year, said it sold 4,421 units last month, up from 1,644 units for the same
period a year ago.
(END)

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