Hyundai, Kia and other Korean carmakers report February 2012 sales

New car sales in South Korea soar 28 percent in February 2012!

Four out of five South Korean carmakers, including Kia Motors, Hyundai Motor Company, GM Korea and Ssangyong Motor reported a 28 percent increase in February sales.

Renault Samsung was the only exception with domestic sales declining from the same month a year ago.

Overall sales of the 5 South Korean carmakers soared 28 percent thanks to increased demand for new cars at home and abroad. The combined sales of the South Korean automakers rose to 689,915 uits last month, compared with 537.631 units sold in February 2011.

While domestic sales only soared 5.6 percent year-on-year for a total of 112,905 units in February 2012, the overseas shipments hit 577,010 units - up 34 percent from a year ago.

Kia sales February 2012 increased a 35.5 percent year-on-year to 240.124 vehicles last month, while Hyundai February sales totaled 360,979 units in February 2012 ( compared to 281,284 units sold in February 2011).

GM Korea, which produces and sells new vehicles under the Chevrolet brand, and Ssangyong Motor, both reported a double digit growth last month. Renault Samsung was the sole carmaker reporting a sligh decrease in sales last month.

Renault Samsung February 2012 sales decreased 2.4 percent from a year earlier. The carmaker reported 16,987 deliveries last month, compared with 17,408 deliveries a year earlier.