Ssangyong Motor

South Korea's car makers for the first time in 2005 posted joint sales figures of more than 5 million units, up
15.6% to 5.2 million vehicles compared to the previous year, according to figures released on Monday.

Exports for the five South Korean car giants - Hyundai Motor Company, Kia Motors, GM Daweoo Auto and Technology,
SsangYong Motor and Renault Samsung - meanwhile rose 19.1% to 4 million units.

Thanks to a recovery in the home market the five manufacturers also saw domestic profits, which had fallen by 17%
in 2004, post a 4.3% gain with 1.3 million units sold to South Korean customers.

The gain was partly attributed to a tax relief scheme on the purchase of personal cars and other long-life
consumer goods, which ended at the close of the year.

Market leader Hyundai alone posted 2005 sales of 2.53 million vehicles (up 11% on 2004), more than 570 000 of
those on the domestic market.

Together with sister company Kia, which in 2005 posted sales of 1.26 million units (up 13.9%), Hyundai executives
expect to sell over four million vehicles in 2006.

The Hyundai group is planning a multi-billion won investment in order to meet 2006 targets and foresees considerable
expansion in its factories in India, China and the United States.

The group aims to become the world's fifth-largest car maker by 2010. GM Daewoo, a subsidiary of the U.S. concern
General Motors, posted a 28.6% rise in sales in 2005 to 1.15 million units.

Off-roader specialist SsangYongsold 141 306 vehicles (up 4.2%) and Renault Samsung 119 035 units (plus 39.9%).

- Source from wheels24 (Jan 03, 2006) -