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Kia Motors’ car sales up 23.4 pct in January
South Korea’s leading car parts manufacturer Hyundai Mobis begins operation of its plant in Slovakia to produce a core car control system that will be supplied to build 600,000 cars per year. Hyundai Mobis announced last Month it fully constructed a 3,170 square-meter plant that manufacturers conventional brake system (CBS) at a module production facility in Slovakia with the investment of 50 billion won ($46.60 million). With the construction, the company built an integrated production system that involves processing, plating and assembly of calipers, drum brakes and hand brakes The CBS, a basic car system, either decelerates or halts a running vehicle. Cars need to be equipped with the system to install cutting-edge, computerized control systems including anti-lock brake system (ABS) and electronic stability control (ESC). Prior to the construction, Hyundai Mobis produced CBS at its domestic plant in Changwon, South Gyeongsang Province, transported them in a complete knock-down (CKD) manner for assembly at module plants in Slovakia and the Czech Republic and supplied them to plants of Korean carmakers Hyundai Motor and Kia Motors in Europe. “The new plant ideally located in Europe for local production will enable Hyundai Mobis cut logistics costs to boost cost competitiveness and rapidly adapt to local conditions and environments,” said an executive of the company.
Kia Motors’ car sales up 23.4 pct in January
South Korea’s second largest carmaker Kia Motors said it sold 260,572 cars worldwide in January, up 23.4 percent from a year ago. Kia sold 36,250 units in South Korea and exported 224,322 cars to the world in the same month. Domestic sales grew six percent from a year ago driven by upbeat sales of the K3 and K7 passenger cars launched in the second half (H2) of last year. Compared with last December, domestic sales dropped 22.1 percent. Domestic sales of new mid-sized sedan K3 came to 4,005 units and sub-compact car Morning 7,722 units in January sales. Sales of the K5 and Sportage R reached 4,108 and 2,778 units, respectively. Domestic sales of luxury K7 sedan came to 2,697 units, up 119.8 percent from a year earlier. Overseas sales of domestically produced cars increased 23.1 percent, while sales from overseas sites surged 30.9 percent. Entire overseas sales grew 26.8 percent. Kia Motors expects the global car market will shrink due to a recession in both advanced and emerging markets.
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