SEOUL, Nov. 2 (Xinhua) -- South Korea's five automakers reported Monday that their auto sales in October posted a combined 2.7 percent increase on-year in October led by higher domestic demand.

    According to figures released by the auto companies, the total sales of five South Korean automakers stood at 518,623 units in October, continuing its September gain, which marked a 43.2 annual growth.

    Although auto exports shrank 2.9 percent from a year ago to 388,431 units, domestic sales soared 24 percent to 130,192 units.

    Among the carmakers, Hyundai posted the best performance, with its sales leaping 6.9 percent to 288,618 units.

    Kia, an affiliate of Hyundai, also saw a rise in sales, 7.3 percent, from a year earlier, hitting 149,591 units in October.

    Meanwhile, GM Daewoo Auto & Technology Co., the local unit of General Motors Co., said it scored a sales volume of 55,314 units last month, 24.6 percent contracted from a year ago, due to falling exports.

    Renault Samsung Motors Co., the local unit of French carmaker Renault SA, said sales climbed 25.6 percent in October from a year earlier to 20,470 units on the back of higher overseas demand.

    Sales at Ssangyong Motor Co., which has been under bankruptcy protection since February, declined 35.4 percent to 4,630 units.

    As of end-October, the nation's five carmakers saw a 3.7 percent on-year decrease in 2009 sales, having sold 4.32 million units.

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