Overseas production by South Korea’s leading carmaker Hyundai Motor Co. and its corporate cousin Kia Motors Corp. touched record-high numbers in March on the back of a boost in output in their factories in Turkey and China, data showed Sunday.
The combined number of cars produced abroad by the carmaking duo under Hyundai Motor Group came to 401,784 units in March, up
5.2 percent from a year earlier, according to the data compiled by the Korea Automobile Manufacturers Association.
The number marks the largest monthly figure ever, topping the previous record of 392,068 units reached in December.
“Overseas production is expanding on the back of increasing sales of sport utility vehicles, as well as regional models that target specific markets abroad,” an industry official said.
“Producing their vehicles abroad is also helping to defend the carmakers’ profitability in some of the markets that were hit by adverse currency exchange rate conditions, including the weakening of the euro and the Russian ruble against the South Korean won.”
Hyundai Motor, which operates a total of 11 manufacturing facilities in seven countries outside of its home market, saw its overseas production come to 278,231 units over the cited period, the data showed.
Comparable figures for Kia Motors touched 123,553 units in March. The smaller affiliate currently runs five factories in the United States, China and Slovakia.
Hyundai Motor’s Turkey plant produced a total of 20,350 units in March, up 21 percent from a year earlier. The facility, which began operations in 1997, has been increasing output over the years and nearly doubled annual production in 2014 to 203,157 units.
Kia Motors’ plants in China are also manufacturing more vehicles, with March production figures climbing 6 percent on-year to 58,100 units. (Yonhap)
