S. Korean carmakers' Jan. sales dip 35 pct

SEOUL, Feb. 2 (Yonhap) -- Auto sales for five of South Korea's carmakers dropped
34.7 percent in January as a global recession sapped demand for vehicles and a
weakened domestic economy drove consumers out of local showrooms, the carmakers
said Monday.

Overall, sales among the automakers, led by Hyundai Motor Co. and its affiliate
Kia Motors Corp., fell to 312,725 units last month, compared with 479,004 units
for the same period a year earlier.
The automaker's exports, including those of GM Daewoo Auto & Technology Co.,
Ssangyong Motor Co. and Renault Samsung Motors Co., slipped 37.4 percent to
239,188 units, while domestic sales dropped 23.9 percent to 73,537 units.
Hyundai, the nation's largest carmaker, was downbeat as January's results were
far lower than expected.
"The outlook for global auto sales is darkening as the global economic recession
spreads to emerging markets," said an official at Hyundai.
Compounding matters, recent data indicate the risk of a technical recession in
South Korea is rising.
Last month, Hyundai sold a total of 179,044 units, with exports dropping 25.3
percent to 143,648 units and domestic sales sliding 31.8 percent to 35,396 units.
Hyundai affiliate Kia said sales nosedived 37.9 percent to 74,915 units. Exports
plunged 46.4 percent to 52,859 units, while domestic sales rose 0.1 percent to
22,056 units.
GM Daewoo, the local unit of U.S. automaker General Motors Corp., saw its vehicle
sales drop 50.5 percent to 45,842 vehicles.
GM Daewoo idled all of its assembly plants for nine days last month to deal with
a rising inventory of unsold vehicles.
Renault Samsung, owned by French automaker Renault SA, sold 11,280 vehicles, down
9.2 percent.
Ssangyong, controlled by China's Shanghai Automotive Industry Corp., suffered an
82 percent plunge in sales as consumers shied away from the potentially bankrupt
automaker.
Ssangyong, which applied for court receivership last month to avoid bankruptcy,
sold 1,644 units last month, the company said.
(END)