SEOUL, Nov. 1 (Yonhap) — Renault Korea Motors, the South Korean division of Renault S.A., announced on Wednesday that its sales had dropped significantly year-on-year in October due to a lack of interest in its vehicles both domestically and abroad.
The company reported that it sold 5,745 vehicles last month, a huge decline from the 19,258 vehicles sold the same time the previous year. Domestic sales decreased 67 percent, down to 1,451 units from 4,338, while exports dropped 71 percent to 4,294 units from 14,920.
From January to October, sales had gone down 35 percent to 92,946 vehicles compared to 142,631 vehicles sold during the same period in 2019. Domestic sales had plummeted 58 percent to 18,579 units from 43,825, while exports had decreased 25 percent to 74,367 from 98,806.
In order to revive sales, Renault Korea has declared its focus on gasoline hybrid models and the production of all-electric models. The company currently offers one gasoline hybrid model, the hybrid electric version of the XM3 compact SUV, as well as three gasoline-powered vehicles: the XM3, QM6 SUV, and SM6 midsize sedan. Renault Korea also intends to add a midsized gasoline hybrid SUV model to its lineup in the second half of 2021 as part of its Aurora 1 project.