S. Korea's auto sales rise 11.5 pct in 2006

The auto sales of South Korea's five biggest automakers, led by Hyundai Motor Co., rose 11.5 percent in 2006 from a year ago on strong exports, the South Korea's Yonhap News Agency said Tuesday.

According to Yonhap, sales of South Korean automobiles at home and abroad last year totaled 5.81 million units in 2006, compared with 5.21 million in 2005, despite the strong local currency, labor strikes and higher oil prices.

Domestic sales gained 1.9 percent to 1.15 million units, while exports climbed 14.2 percent to 4.66 million units, the report said.

Hyundai Motor, which controls more than half of the South Korean auto market, sold a total of 2.66 million units in 2006, up 5.1 percent from a year earlier, with domestic sales up 1.8 percent to 581,092 units and exports higher by 6.1 percent to 2, 082,906 units. Hyundai Motor had set its original target for the sales in 2006 at 2.69 million units.

Hyundai Motor said it's sales target for 2007 was 2.73 million vehicles at home and abroad.