South Korea report: domestic sales drop 7% in April [Yahoo! Finance]
RENAULT SA UNSP/ADR (RNLSY)
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Source: Yahoo! Finance
The data did not include sales by low volume commercial vehicle manufacturers while import brands will be covered in a separate report later in the month. Last month's decline followed sharper falls earlier in the year despite a pick up in domestic economic activity in the country in the first quarter, resulting in an 11% drop in cumulative four month sales to 442,454 units from 496,352 units. The country's highly indebted consumers have been struggling with the central bank's interest rate hikes over the last few years, from 0.5% to 3.5%, with demand for battery electric vehicles (BEVs) particularly weak. Most domestic vehicle manufacturers reported lower year to date (YTD) sales in the first four months of the year, including Hyundai with a 13% drop to 223,700 units with the company's deliveries affected also by plant stoppages as it carried out production line refurbishment and maintenance work at some key facilities. Kia reported a 3.2% decline to 186,312 units while KG Mo
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