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Local Automakers' Sales Plunge 14.5% in March amid COVID-19 Outbreak

Written: 2020-04-01 18:16:00Updated: 2020-04-01 18:20:21

Local Automakers' Sales Plunge 14.5% in March amid COVID-19 Outbreak

Photo : YONHAP News

The combined sales of South Korean automakers dropped around 15 percent on-year in March amid negative impacts from the COVID-19 pandemic. 

According to the five local automakers on Wednesday, they sold a total of 647-thousand-412 units last month, down 14-point-five percent from the same month last year.

While their combined domestic sales increased by nine-point-two percent to 151-thousand-025, their overseas sales plunged 19-point-eight percent to 496-thousand-387. 

The uptick in domestic sales was attributed to new models and vehicles lineups as well as individual consumption tax reductions. Meanwhile, a virus-triggered fall in demand and production glitches following plant shutdowns led to weaker overseas performances. 

The country's largest automaker, Hyundai Motor, posted a three percent growth in domestic sales, but saw overseas sales decline by 26-point-two percent.

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