AM Online

Koreans break sales record in 2003

The combined global sales of Hyundai Motor, Kia, GM Daewoo, Ssangyong and Renault Samsung were 9.6% up on their 2002 volumes at a total of around 3.8 m units last year.

The five manufacturers' exports were up 33.7% in aggregate at 2.6m units, while domestic volumes were 19% down to around 1.3m units. Korean market leader Hyundai Motor's global sales reached 1.96m units. This year, the firm's employees have been told, targeted sales are 3.3 m units for the Hyundai and Kia brands – 2.14m for Hyundai, and around 1.07m for Kia, which was Europe's fastest-growing car brand last year.

GM Daewoo increased sales in 2003 by nearly 50% to 571,219 units, but the ex-Daewoo affiliated 4x4 manufacturer SsangYong Motor, acquired in December by the Chinese Blue Star saw 2003 sales drop by 83% to 146.696, and Renault Samsung sales were also down, but 4.9% to 111.376 units.

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