Seoul, Nov 03: South Korea's leading Hyundai Motor Co. said today that car exports hit a record high in October but domestic sales fell sharply. The company said overseas sales rose 28.2 per cent to an all-time high of 146,363 units in October due to stronger demand abroad.

Hyundai said total sales in October were up 8.9 per cent year-on-year to 198,122 vehicles, another record, but domestic sales fell 23.5 per cent to 51,759 units. Hyundai's subsidiary, KIA Motors, said it sold 108,221 vehicles in October, up 6.5 per cent from a year earlier, with exports climbing 28.2 per cent to 81,421 vehicles.

KIA's domestic sales dropped 29.6 per cent year-on-year to 26,800 vehicles.

GM Daewoo auto technology also posted its best monthly sales in October since it took over Daewoo Motor a year ago. The subsidiary of US giant General Motors sold 80,313 vehicles in October, up 265 percent from a year earlier. Exports rose 556 percent to 70,275 units with domestic sales 10,038 units, down 11 percent.

GM said domestic sales showed signs of recovery in October, helped by massive marketing efforts.

Bureau Report