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Saturday, April 3, 1999

Hyundai, Kia report rise in exports as Daewoo sees 15.2% decline 

 
Seoul, Apr 2: Hyundai Motors Co, South Korea's largest auto maker, posted a 32.6 per cent surge in exports in March from the year-earlier period, while Kia Motor Corp's exports rose five per cent and Daewoo Motor Co's fell 15.2 per cent.

Robust sales of Hyundai's large-car models and a recovery in the country's economy help raise exports to 60,657 units, while Kia's exports totaled 35,323 units on overseas marketing efforts and Hyundai's recent commitment to continue operating Kia as an independent entity.

Despite rising exports of its Matiz mini car, Daewoo's overall exports fell to 39,381 units due to a drop in sales of cars with 1,500-cubic-centimeters engine capacity, a company spokesman said.

Domestic sales for each of the companies jumped. Hyundai's sales at home rose 57.6 per cent to 44,856 units mainly because of higher sales of large car models amid a pick up in the country's economy, a company spokesman said. Strong sales of Kia's Carnival mini van helped fuel the company's 36.3 per centgain to 19,328 units.

Meanwhile, Daewoo's local sales rose 63 per cent to 27,665 units in March thanks to brisk sales of the company's Nubira II automobile, which was introduced in March, the company said. Local sales of recreational vehicles rose 137 per cent while sales of the company's luxury sedan chairman were also strong, they added.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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