Hyundai Motor Co., South Korea's No. 1 automaker, said Tuesday that its March sales jumped 10.6 percent from a year earlier, helped by the launch of new cars and a rise in production at home and abroad.

The company said it sold 431,532 cars last month, with domestic sales rising 3.1 percent to reach 57,812. Overseas shipments gained 11.9 percent to 373,720 cars.

On the domestic front, sales of the premium Genesis sedan reached 3,187 units, a three-fold gain from a year before, it said.

The Grandeur full-sized sedan was its best-selling car in its sedan lineup last month with 8,003 units being sold, including 1,446 hybrid variants.

In the sport utility vehicle sector, sales of the popular Sante Fe hit 7,737 units, with demand for the long wheel-base model of the SUV hitting 1,084.

"The introduction of new car models and an overall rise in production bolstered sales," the company said in a statement. Domestic production of cars shot up 26.5 percent to 109,597 units, with total cars made abroad totaling 264.123, a gain of 6.8 percent on-year.

The carmaker said that with demand expected to grow only at a sluggish pace this year, coupled with stiffer competition, this year's market conditions will be tough. It, however, said every effort will be made to build up the company's global competitiveness and expand its market presence.

Besides the Genesis unveiled late last year, the company launched its new Sonata midsize sedan last week in the home market, with overseas sales to start in the second half. The Sonata is expected to help Hyundai claw back its market share that it lost to rivals such as Toyota and Honda. (Yonhap)