S. Korean carmakers' global sales reduce in March on weak overseas demand

Global car sales by South Korean automakers reduced last month on weak overseas demand that offset brisk sales in the domestic market, industry data showed on Friday.

The country's five automakers, including Hyundai, Kia, GM Korea, Renault Samsung and Ssangyong, sold a total of 794,505 vehicles globally in March, down 0.94 percent from a year earlier.

Combined domestic car sales jumped 17 percent to 127,216 units thanks to demand for passenger cars and sport utility vehicles (SUVs), but overseas sales declined 4.3 percent to 674,846 units amid global economic slowdown.

The country's Number 1 carmaker Hyundai Motor saw its global car sales decline 0.9 percent in March from a year earlier at 432,878 units. Domestic sales increased 7.2 percent, but overseas sales fell 2.2 percent.

The second-biggest car manufacturer Kia Motors posted global sales of 268,236 units in March, down 3 percent from a year ago. Local car sales posted a double-digit growth thanks to popularity for new K7 and K5 passenger vehicles.

GM Korea posted a double-digit growth in local car sales thanks to demand for new models, and Ssangyong motor saw its global sales rise 1.1 percent from a year earlier to 13,010 units on the back of both local and overseas sales.

Renault Samsung's global car sales increased 13.5 percent to 24,237 units in March amid strong demand for SM6 rolled out last month. Enditem