Seoul: Renault Korea Motors Co., the South Korean arm of France's Renault S.A., announced on Tuesday a significant decline in its sales for the month of August. The automaker reported a 34 percent decrease in sales compared to the same month last year, attributing the drop to weak demand both domestically and internationally.
According to Yonhap News Agency, Renault Korea sold a total of 4,261 vehicles in August, a sharp decrease from 6,457 units sold in the previous year. The company experienced a substantial decline in domestic sales, which fell by 47.7 percent to 2,024 units. Meanwhile, international sales also saw a decline, dropping 13.6 percent to 2,237 units.
Hybrid models have played a significant role in Renault Korea's domestic market performance this year. From January to August, hybrid vehicles accounted for 79 percent of the company's domestic sales, with a total of 19,630 units sold.
In an effort to boost sales, Renault Korea introduced the 2027 model of its Grand Koleos midsize family SUV earlier in the day.