Frustrated Automotive Investors: Look to South Korea for Growth (GM; ETF: EWY; CEF: KF)

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Includes: EWY, GM, KF
by: Gary Dorsch

While the performance of General Motors (NYSE:GM) has been dismal, South Korean auto makers enjoyed a 17% rise in November sales. Shares in Hyundai Motors 005380.KS have doubled from 6 months ago, after posting record exports, despite a stronger won. Hyundai Motor 005380.KS which controls half the domestic market, sold 252,532 vehicles in November, up 13.1% from a year earlier, its best performance in almost 3-years. Its exports rose 12.5% to 196,636 units, while local sales climbed 15.2% to 55,896 units. The car industry accounts for about a tenth of total exports in South Korea, which has Asia's fourth-largest economy.

Hyundai Motors 005380 Korea

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