S. Korean carmakers focus on selling high-end vehicles with higher margins

South Korean carmakers Hyundai and GM Korea are focusing on selling high-end vehicles to better cope with a possible car sales decline due to the global economic slump.

The sales of SUVs among Hyundai Motor Co.s offering rose to 50.6 percent this year from 48.1 percent a year ago, while sales of its Genesis also inched jumped 8.7 percent year on year.

Hyundai Motor Co’s third-quarter sales soared 30.6 percent year on year to post record-breaking quarterly sales.

From January to August, Hyundai sold 36,000 Genesis vehicles and 56,000 units of Palisade SUV in the US, showing a sharp increase in the share of high-end vehicles.

Meanwhile, GM Korea Co. plans to focus on exports of high-end models for the time being.

It stopped producing the Spark mini car last month after halting production of the Damas and Labo mini commercial vehicles early this year.

The South Korean unit of General Motors Co. also plans to suspend production of the Malibu sedan and Trax SUV at the end of this year.