Korea - Automotive Sales volume, 2024

Flash report, December 2024

Jan 6, 2025

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea up 4.0% in December, down 6.4% in 2024
Five Korean automakers announced domestic new vehicle sales. In December, new vehicle sales in South Korea increased by 4.0% compared to the same month in the previous year, reaching 118,812 units. Meanwhile, full-year vehicle sales in 2024 decreased by 6.4% year-over-year (y/y) to 1,356,706 units.
In 2024, Hyundai Motor was the leader with sales of 705,010 units (52.0% market share), representing a decrease of 7.5% y/y, followed by Kia Motors with a 4.2% decrease to 540,010 units (39.8% share). KGM came in third place with a 25.7% decrease to 47,046 units (3.5% share). Renault Korea sales increased by 80.6% to 39,816 units (2.9% share), while GM Korea experienced a decline of 35.9%, with sales totaling 24,824 units (1.8% share).
Overseas sales in 2024, including exports, showed mixed performance. Hyundai’s overseas sales fell by 0.5%, while Kia achieved a 1.0% rise. GM Korea saw a 10.6% increase, Renault Korea fell by 18.4%, and KGM grew by 18.2%.
For 2024, Hyundai’s global sales volume decreased by 1.8% y/y to 4,141,791 units, Kia increased by 0.1% to 3,083,371 units, GM Korea increased by 6.7% to 499,559 units, KGM decreased by 5.7% to 109,424 units, and Renault Korea increased by 2.6% to 106,939 units.
In terms of sales by model in 2024, Kia’s midsize SUV Sorento ranked first with 94,538 units sold, followed by Kia’s MPV Carnival in second place with 82,748 units sold. Hyundai’s midsize SUV Santa Fe was third in sales with 77,161 units sold.

South Korea - Sales of domestic make (Dec. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Dec. 2024	Dec. 2023	Y-o-Y	Dec. 2024	Dec. 2023	Y-o-Y
	Dec.	Share *1	Dec.	Share *1
Hyundai	61,323	51.6%	62,172	54.4%	-1.4%	268,736	281,002	-4.4%	330,059	343,174	-3.8%
Kia	46,070	38.8%	44,803	39.2%	2.8%	193,887	169,758	14.2%	239,957	214,561	11.8%
Renault Korea *3	7,078	6.0%	1,594	1.4%	344.0%	7,569	5,213	45.2%	14,647	6,807	115.2%
KGM	2,540	2.1%	3,507	3.1%	-27.6%	8,147	2,772	193.9%	10,687	6,279	70.2%
GM Korea *2	1,801	1.5%	2,214	1.9%	-18.7%	51,524	49,201	4.7%	53,325	51,415	3.7%
Total	118,812	100.0%	114,290	100.0%	4.0%	529,863	507,946	4.3%	648,675	622,236	4.2%

Source: Releases by each companies

South Korea - Sales of domestic make (2023)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	2024 Total	2023 Total	Y-o-Y	2024 Total	2023 Total	Y-o-Y
	Total	Share *1	Total	Share *1
Hyundai	705,010	52.0%	762,077	52.6%	-7.5%	3,436,781	3,454,821	-0.5%	4,141,791	4,216,898	-1.8%
Kia	540,010	39.8%	563,660	38.9%	-4.2%	2,543,361	2,518,016	1.0%	3,083,371	3,081,676	0.1%
KGM	47,046	3.5%	63,345	4.4%	-25.7%	62,378	52,754	18.2%	109,424	116,099	-5.7%
Renault Korea *3	39,816	2.9%	22,048	1.5%	80.6%	67,123	82,228	-18.4%	106,939	104,276	2.6%
GM Korea *2	24,824	1.8%	38,755	2.7%	-35.9%	474,735	429,304	10.6%	499,559	468,059	6.7%
Total	1,356,706	100.0%	1,449,885	100.0%	-6.4%	6,584,378	6,537,123	0.7%	7,941,084	7,987,008	-0.6%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y	2024		2023		Y-o-Y
	Dec.	Share	Dec.	Share		Jan.-Dec.	Share	Jan.-Dec.	Share
BMW	6,504	27.6%	7,849	28.8%	-17.1%	73,754	28.0%	77,395	28.6%	-4.7%
Mercedes-Benz	6,839	29.1%	8,541	31.4%	-19.9%	66,400	25.2%	76,697	28.3%	-13.4%
Tesla	1,252	5.3%	-	-%	-%	29,750	11.3%	-	-%	-%
Volvo	1,448	6.2%	1,608	5.9%	-10.0%	15,051	5.7%	17,018	6.3%	-11.6%
Lexus	1,120	4.8%	1,370	5.0%	-18.2%	13,969	5.3%	13,561	5.0%	3.0%
Toyota	1,100	4.7%	893	3.3%	23.2%	9,714	3.7%	8,495	3.1%	14.3%
Audi	918	3.9%	1,218	4.5%	-24.6%	9,304	3.5%	17,868	6.6%	-47.9%
Porsche	768	3.3%	913	3.4%	-15.9%	8,284	3.1%	11,355	4.2%	-27.0%
Volkswagen	539	2.3%	1,462	5.4%	-63.1%	8,273	3.1%	10,247	3.8%	-19.3%
MINI	760	3.2%	804	3.0%	-5.5%	7,648	2.9%	9,535	3.5%	-19.8%
Ford/Lincoln	478	2.0%	824	3.0%	-42.0%	6,042	2.3%	5,108	1.9%	18.3%
Land Rover	479	2.0%	335	1.2%	43.0%	4,437	1.7%	5,019	1.9%	-11.6%
Chrysler/Jeep	243	1.0%	460	1.7%	-47.2%	2,628	1.0%	4,512	1.7%	-41.8%
Honda	362	1.5%	151	0.6%	139.7%	2,507	1.0%	1,385	0.5%	81.0%
Chevrolet	79	0.3%	117	0.4%	-32.5%	1,461	0.6%	5,589	2.1%	-73.9%
Peugeot	95	0.4%	263	1.0%	-63.9%	947	0.4%	2,026	0.7%	-53.3%
Polestar	320	1.4%	98	0.4%	226.5%	800	0.3%	1,654	0.6%	-51.6%
Cadillac	39	0.2%	116	0.4%	-66.4%	666	0.3%	975	0.4%	-31.7%
Lamborghini	54	0.2%	47	0.2%	14.9%	487	0.2%	431	0.2%	13.0%
Bentley	60	0.3%	62	0.2%	-3.2%	400	0.2%	810	0.3%	-50.6%
GM/GMC	28	0.1%	22	0.1%	27.3%	332	0.1%	437	0.2%	-24.0%
Maserati	21	0.1%	47	0.2%	-55.3%	251	0.1%	434	0.2%	-42.2%
Rolls-Royce	18	0.1%	21	0.1%	-14.3%	183	0.1%	276	0.1%	-33.7%
DS	-	0.0%	2	0.0%	-100.0%	-	0.0%	153	0.1%	-100.0%
Jaguar	-	0.0%	0	0.0%	-%	-	0.0%	54	0.0%	-100.0%
Total	23,524	100.0%	27,223	100.0%	-13.6%	263,288	100.0%	271,034	100.0%	-2.9%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, November 2024

Dec 2, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea decrease 6.4% in November
Five Korean automakers announced domestic new vehicle sales in November. New vehicle sales in South Korea decreased by 6.4% compared to the same month in the previous year to 123,616 units. While the total domestic sales were down compared to the same month last year, growth in exports helped offset these losses. Notably, excluding Hyundai, the other four automakers recorded increases in their global sales in November.
By company, Hyundai Motor was the leader with sales of 63,170 units (51.1% market share), a decrease of 12.3% year-over-year (y/y), followed by Kia Motors with a 4.0% decrease to 48,015 units (38.8% share). Renault Korea came in third place with a 289.4% increase to 7,301 units (5.9% share). KGM sales decreased by 34.5% to 3,309 units (2.7% share), and fifth GM Korea experienced a decrease in sales of 39.6% to 1,821 units (1.5% share).
Overseas sales, including exports, showed a mixed performance in November. Hyundai’s overseas sales fell by 1.6%, while Kia achieved a 1.9% rise. GM Korea saw an 8.4% rise, Renault Korea surged by 197.5%, and KGM grew 184.1%. Renault Korea’s Arcana played a major role in its export growth, while KGM's Rexton Sports model drove its export performance.
Global sales of five automakers in November were mixed, with Hyundai's global sales were down 3.7% y/y to 355,729 units, Kia’s sales up 0.8% to 261,850 units and GM Korea’s sales increased 5.4% to 49,626 units. Renault Korea’s grew by 235.6% to 15,180 units, and KGM’s sales were up 26.4% to 8,849 units.
For the period January through November 2024, Hyundai global sales volume decreased by 1.7% y/y to 3,809,424 units, Kia decreased by 0.9% to 2,841,654 units, GM Korea increased by 7.1% to 446,234 units, KGM decreased 10.1% to 98,737 units and Renault Korea decreased 5.3% to 92,292 units.
In terms of sales by model in November, mid-size SUVs dominated the domestic market.  Kia’s mid-size SUV Sorento was ranked first with 10,434 units sold, followed by Hyundai’s mid-size SUV Santa Fe in second place with 7,576 units sold and Kia’s MPV Carnival was third in sales with 7,516 units.

South Korea - Sales of domestic make (Nov. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Nov. 2024	Nov. 2023	Y-o-Y	Nov. 2024	Nov. 2023	Y-o-Y
	Nov.	Share *1	Nov.	Share *1
Hyundai	63,170	51.1%	72,058	54.6%	-12.3%	292,559	297,298	-1.6%	355,729	369,356	-3.7%
Kia	48,015	38.8%	50,022	37.9%	-4.0%	213,835	209,759	1.9%	261,850	259,781	0.8%
Renault Korea *3	7,301	5.9%	1,875	1.4%	289.4%	7,879	2,648	197.5%	15,180	4,523	235.6%
KGM	3,309	2.7%	5,050	3.8%	-34.5%	5,540	1,950	184.1%	8,849	7,000	26.4%
GM Korea *2	1,821	1.5%	3,016	2.3%	-39.6%	47,805	44,088	8.4%	49,626	47,104	5.4%
Total	123,616	100.0%	132,021	100.0%	-6.4%	567,618	555,743	2.1%	691,234	687,764	0.5%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Nov.	Share	Nov.	Share
BMW	6,665	28.0%	7,032	28.4%	-5.2%
Mercedes-Benz	5,086	21.4%	7,168	29.0%	-29.0%
Tesla	3,618	15.2%	-	-%	-%
Lexus	1,370	5.8%	1,183	4.8%	15.8%
Volvo	1,319	5.5%	1,640	6.6%	-19.6%
Volkswagen	1,077	4.5%	966	3.9%	11.5%
Audi	914	3.8%	1,392	5.6%	-34.3%
Toyota	801	3.4%	835	3.4%	-4.1%
Porsche	772	3.2%	752	3.0%	2.7%
MINI	616	2.6%	997	4.0%	-38.2%
Ford/Lincoln	473	2.0%	555	2.2%	-14.8%
Land Rover	416	1.7%	300	1.2%	38.7%
Chrysler/Jeep	168	0.7%	420	1.7%	-60.0%
Chevrolet	113	0.5%	576	2.3%	-80.4%
Peugeot	65	0.3%	276	1.1%	-76.4%
Lamborghini	61	0.3%	33	0.1%	84.8%
Honda	54	0.2%	187	0.8%	-71.1%
Polestar	50	0.2%	167	0.7%	-70.1%
Cadillac	49	0.2%	115	0.5%	-57.4%
Bentley	47	0.2%	65	0.3%	-27.7%
GM/GMC	24	0.1%	36	0.1%	-33.3%
Rolls-Royce	15	0.1%	11	0.0%	36.4%
Maserati	11	0.0%	23	0.1%	-52.2%
DS	-	0.0%	10	0.0%	-%
Jaguar	-	0.0%	1	0.0%	-%
Total	23,784	100.0%	24,740	100.0%	-3.9%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, October 2024

Nov 1, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea increase 5.8% in October
Five Korean automakers announced domestic new vehicle sales in October. New vehicle sales in South Korea increased by 5.8% compared to the same month in the previous year to 123,810 units.
By company, Hyundai Motor led with 64,912 units sold (52.4% market share), a year-over-year (y/y) increase of 0.9%. Kia Motors followed with a 7.1% increase to 46,025 units (37.2% share). Renault Korea came in third with an impressive 340.7% increase to 6,395 units (5.2% share), driven by strong sales of the new "Grand Koleos." KGM saw an 18.4% growth to 4,504 units (3.6% share), while GM Korea’s sales declined 55.8% to 1,974 units (1.6% share).
Overseas sales, including exports, mixed for five Korean OEMs in October: sales decreased 2.1% at Hyundai. Sales increased 1.8 % at Kia, 14.9% at GM Korea, 41.2% at Renault Korea and 81.2% at KGM.
Global sales for the five automakers surpassed 700,000 units for the first time in seven months. October’s global performance showed mixed results: Hyundai’s global sales were down 1.6% y/y to 371,421 units, Kia’s grew by 2.7% to 263,926 units, GM Korea’s rose by 8.1% to 50,021 units, Renault Korea’s increased by 116.8% to 12,456 units, and KGM’s sales were up 44.0% to 9,245 units.
For the period January through October 2024, Hyundai global sales volume decreased by 1.6% y/y to 3,447,171 units, Kia decreased by 1.1% to 2,579,316 units, GM Korea increased by 7.3% to 396,608 units, KG Mobility decreased 12.6% to 89,888 units and Renault Korea decreased 17.0% to 77,112 units.　
In terms of sales by model in October, Kia’s mid-size SUV Sorento was ranked first with 7,962 units sold, followed by Hyundai’s mid-size sedan Grandeur in second place with 7,433 units sold and Hyundai’s mid-size SUV Santa Fe was third in sales with 7,294 units.

South Korea - Sales of domestic make (Oct. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Oct. 2024	Oct. 2023	Y-o-Y	Oct. 2024	Oct. 2023	Y-o-Y
	Oct.	Share *1	Oct.	Share *1
Hyundai	64,912	52.4%	64,328	55.0%	0.9%	306,509	313,004	-2.1%	371,421	377,332	-1.6%
Kia	46,025	37.2%	42,960	36.7%	7.1%	217,901	214,130	1.8%	263,926	257,090	2.7%
Renault Korea *3	6,395	5.2%	1,451	1.2%	340.7%	6,061	4,294	41.2%	12,456	5,745	116.8%
KGM	4,504	3.6%	3,804	3.3%	18.4%	4,741	2,617	81.2%	9,245	6,421	44.0%
GM Korea *2	1,974	1.6%	4,469	3.8%	-55.8%	48,047	41,800	14.9%	50,021	46,269	8.1%
Total	123,810	100.0%	117,012	100.0%	5.8%	583,259	575,845	1.3%	707,069	692,857	2.1%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Oct.	Share	Oct.	Share
Mercedes-Benz	6,427	30.2%	6,612	31.0%	-2.8%
BMW	6,113	28.8%	5,985	28.1%	2.1%
Lexus	1,283	6.0%	963	4.5%	33.2%
Tesla	1,263	5.9%	-	-%	-%
Volvo	1,161	5.5%	1,263	5.9%	-8.1%
Audi	943	4.4%	1,151	5.4%	-18.1%
Toyota	754	3.5%	722	3.4%	4.4%
Volkswagen	741	3.5%	853	4.0%	-13.1%
Porsche	701	3.3%	705	3.3%	-0.6%
MINI	538	2.5%	732	3.4%	-26.5%
Ford/Lincoln	319	1.5%	297	1.4%	7.4%
Land Rover	305	1.4%	291	1.4%	4.8%
Chrysler/Jeep	183	0.9%	233	1.1%	-21.5%
Chevrolet	138	0.6%	587	2.8%	-76.5%
Honda	120	0.6%	233	1.1%	-48.5%
Cadillac	53	0.2%	67	0.3%	-20.9%
Lamborghini	49	0.2%	35	0.2%	40.0%
Bentley	36	0.2%	73	0.3%	-50.7%
GM/GMC	36	0.2%	15	0.1%	140.0%
Peugeot	35	0.2%	140	0.7%	-75.0%
Polestar	20	0.1%	287	1.3%	-93.0%
Maserati	16	0.1%	30	0.1%	-46.7%
Rolls-Royce	15	0.1%	17	0.1%	-11.8%
DS	-	0.0%	27	0.1%	-%
Jaguar	-	0.0%	11	0.1%	-%
Total	21,249	100.0%	21,329	100.0%	-0.4%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, September 2024

Oct 2, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea decrease 0.9% in September
Five Korean automakers announced domestic new vehicle sales in September. New vehicle sales in South Korea decreased by 0.9% compared to the same month in the previous year to 105,448 units. The decline in sales was influenced by rising prices and interest rates, as well as reduced production due to the Chuseok holiday and supplier strikes.
By company, Hyundai Motor was the leader with sales of 55,805 units (52.9% market share), an increase of 3.5% year-over-year (y/y), followed by Kia Motors with a 13.6% decrease to 38,140 units (36.2% share). Renault Korea came in third place with a 203.5% increase to 5,010 units (4.8% share). KGM sales increased by 11.5% to 4,535 units (4.3% share), and fifth GM Korea experienced a decrease in sales of 25.6% to 1,958 units (1.9% share). Renault Korea and KGM experienced growth driven by the strong performance of their new models. Despite production disruptions at its Busan plant due to a union strike, Renault Korea successfully shipped 3,900 units of its new "Grand Koleos," enhancing its overall performance.
Overseas sales, including exports, decreased 5.0% at Hyundai, 2.7% at Kia, 51.5% at Renault Korea and 43.7% at KGM. GM Korea’s sales increased 9.1%. In total, overseas sales decreased by 4.3% to 542,747 units.
Global sales for the five automakers in September were mixed as well, with Hyundai's global sales down 3.7% y/y to 343,824 units, Kia's sales decreased 4.5% to 249,142 units, GM Korea’s sales increased 6.6% to 38,967 units. KGM’s sales decreased 20.3% to 7,637 units and Renault Korea’s sales dropped by 5.3% to 8,625 units. The overall global sales total of the five companies was 648,195 units, a decrease of 3.7%.
For the period January through September 2024, Hyundai global sales volume decreased by 1.6% y/y to 3,075,861 units, Kia decreased by 1.5% to 2,315,332 units, GM Korea increased by 7.2% to 346,587 units, KGM decreased 16.3% to 80,643 units and Renault Korea decreased 25.9% to 64,656 units.
In terms of sales by model in September, Kia’s midsize SUV Sorento was ranked first with 6,628 units sold, followed by Hyundai’s mid-size sedan Grandeur in second place with 6,120 units sold and Hyundai’s mid-size SUV Santa Fe was third in sales with 5,314 units.

South Korea - Sales of domestic make (Sep. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Sep. 2024	Sep. 2023	Y-o-Y	Sep. 2024	Sep. 2023	Y-o-Y
	Sep.	Share *1	Sep.	Share *1
Hyundai	55,805	52.9%	53,911	50.7%	3.5%	288,019	303,222	-5.0%	343,824	357,133	-3.7%
Kia	38,140	36.2%	44,123	41.5%	-13.6%	211,002	216,792	-2.7%	249,142	260,915	-4.5%
Renault Korea *3	5,010	4.8%	1,651	1.6%	203.5%	3,615	7,454	-51.5%	8,625	9,105	-5.3%
KGM	4,535	4.3%	4,069	3.8%	11.5%	3,102	5,514	-43.7%	7,637	9,583	-20.3%
GM Korea *2	1,958	1.9%	2,632	2.5%	-25.6%	37,009	33,912	9.1%	38,967	36,544	6.6%
Total	105,448	100.0%	106,386	100.0%	-0.9%	542,747	566,894	-4.3%	648,195	673,280	-3.7%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Sep.	Share	Sep.	Share
Mercedes-Benz	8,382	33.7%	6,971	30.9%	20.2%
BMW	7,082	28.5%	6,188	27.4%	14.4%
Tesla	1,349	5.4%	-	-%	-%
Lexus	1,312	5.3%	916	4.1%	43.2%
Volvo	1,282	5.2%	1,555	6.9%	-17.6%
Audi	995	4.0%	1,416	6.3%	-29.7%
Toyota	778	3.1%	712	3.2%	9.3%
Volkswagen	760	3.1%	1,114	4.9%	-31.8%
Porsche	721	2.9%	695	3.1%	3.7%
Ford/Lincoln	478	1.9%	233	1.0%	105.2%
Land Rover	446	1.8%	315	1.4%	41.6%
MINI	428	1.7%	738	3.3%	-42.0%
Honda	223	0.9%	105	0.5%	112.4%
Chrysler/Jeep	194	0.8%	296	1.3%	-34.5%
Chevrolet	178	0.7%	563	2.5%	-68.4%
Cadillac	54	0.2%	55	0.2%	-1.8%
Bentley	42	0.2%	60	0.3%	-30.0%
Peugeot	40	0.2%	172	0.8%	-76.7%
Lamborghini	37	0.1%	49	0.2%	-24.5%
GM/GMC	26	0.1%	52	0.2%	-50.0%
Maserati	16	0.1%	30	0.1%	-46.7%
Rolls-Royce	12	0.0%	15	0.1%	-20.0%
Polestar	4	0.0%	292	1.3%	-98.6%
DS	-	0.0%	18	0.1%	-%
Jaguar	-	0.0%	5	0.0%	-%
Total	24,839	100.0%	22,565	100.0%	10.1%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, August 2024

Sep 2, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea decrease 0.9% in August
Five Korean automakers announced domestic new vehicle sales in August. New vehicle sales in South Korea decreased by 0.9% compared to the same month in the previous year to 105,504 units. While sales continued to decline due to reduced demand for electric vehicles, as well as rising prices and interest rates, the production line was impacted by the modernization of certain automakers' facilities and partial strikes by labor unions.
By company, Hyundai Motor was the leader with sales of 58,087 units (55.1% market share), an increase of 4.6% year-over-year (y/y), followed by Kia Motors with a 4.1% decrease to 40,510 units (38.4% share). KGM came in third place with a 1.0% increase to 3,943 units (3.7% share). GM Korea sales decreased by 51.0% to 1,614 units (1.5% share), and fifth Renault Korea experienced a decrease in sales of 10.1% to 1,350 units (1.3% share).
Overseas sales, including exports, decreased 7.2% at Hyundai, 1.4% at Kia, 50.7% at GM Korea and 39.5% at KGM. Renault Korea’s sales increased 2.7%. In total, overseas sales decreased by 7.5% to 510,665 units. GM Korea has experienced production disruptions due to strikes over collective wage negotiations, leading to a significant drop in exports.
Global sales for the five automakers in August were mixed as well, with Hyundai's global sales down 5.3% y/y to 332,963 units, Kia's sales decreased 1.8% to 250,993 units, GM Korea’s sales dropped by 50.7% to 15,634 units. KGM’s sales decreased 24.9% to 8,128 units and Renault Korea’s sales increased 0.4% to 8,451 units. The overall global sales total of the five companies were 616,169 units, a decrease of 6.4%.
For the period January through August 2024, Hyundai global sales volume decreased by 1.4% y/y to 2,730,162 units, Kia decreased by 1.1% to 2,065,908 units, GM Korea increased by 7.3% to 307,620 units, KGM decreased 15.9% to 73,006 units and Renault Korea decreased 28.3% to 56,031 units.
In terms of sales by model in August, Hyundai’s midsize sedan Sonata was ranked first with 6,317 units sold, followed by Hyundai’s mid-size sedan Grandeur in second place with 6,187 units sold and Kia’s compact SUV Sportage was third in sales with 5,988 units.

South Korea - Sales of domestic make (Aug. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Aug. 2024	Aug. 2023	Y-o-Y	Aug. 2024	Aug. 2023	Y-o-Y
	Aug.	Share *1	Aug.	Share *1
Hyundai	58,087	55.1%	55,555	52.2%	4.6%	274,876	296,172	-7.2%	332,963	351,727	-5.3%
Kia	40,510	38.4%	42,225	39.7%	-4.1%	210,483	213,421	-1.4%	250,993	255,646	-1.8%
KGM	3,943	3.7%	3,903	3.7%	1.0%	4,185	6,920	-39.5%	8,128	10,823	-24.9%
GM Korea *2	1,614	1.5%	3,297	3.1%	-51.0%	14,020	28,419	-50.7%	15,634	31,716	-50.7%
Renault Korea *3	1,350	1.3%	1,502	1.4%	-10.1%	7,101	6,912	2.7%	8,451	8,414	0.4%
Total	105,504	100.0%	106,482	100.0%	-0.9%	510,665	551,844	-7.5%	616,169	658,326	-6.4%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Aug.	Share	Aug.	Share
BMW	5,880	26.4%	6,304	27.0%	-6.7%
Mercedes-Benz	5,286	23.7%	6,588	28.2%	-19.8%
Tesla	2,208	9.9%	-	-%	-%
Volkswagen	1,445	6.5%	1,417	6.1%	2.0%
Lexus	1,355	6.1%	1,091	4.7%	24.2%
Volvo	1,245	5.6%	1,080	4.6%	15.3%
Audi	1,010	4.5%	1,551	6.6%	-34.9%
Toyota	900	4.0%	733	3.1%	22.8%
Porsche	747	3.4%	1,111	4.8%	-32.8%
Ford/Lincoln	530	2.4%	233	1.0%	127.5%
Land Rover	397	1.8%	382	1.6%	3.9%
MINI	379	1.7%	1,036	4.4%	-63.4%
Honda	272	1.2%	105	0.4%	159.0%
Chevrolet	187	0.8%	482	2.1%	-61.2%
Chrysler/Jeep	178	0.8%	552	2.4%	-67.8%
Cadillac	61	0.3%	61	0.3%	0.0%
Peugeot	49	0.2%	184	0.8%	-73.4%
Bentley	40	0.2%	84	0.4%	-52.4%
Lamborghini	38	0.2%	40	0.2%	-5.0%
GM/GMC	27	0.1%	29	0.1%	-6.9%
Rolls-Royce	13	0.1%	29	0.1%	-55.2%
Maserati	11	0.0%	51	0.2%	-78.4%
Polestar	5	0.0%	185	0.8%	-97.3%
DS	-	0.0%	19	0.1%	-%
Jaguar	-	0.0%	3	0.0%	-%
Total	22,263	100.0%	23,350	100.0%	-4.7%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, July 2024

Aug 1, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea decrease 4.3% in July
Five Korean automakers announced domestic new vehicle sales in July. New vehicle sales in South Korea decreased by 4.3% compared to the same month in the previous year to 109,924 units, due to declining domestic demand.
By company, Hyundai Motor was the leader with sales of 56,009 units (51.0% market share), a decrease of 2.6% year-over-year (y/y), followed by Kia Motors with a 3.0% decrease to 46,010 units (41.9% share). KGM came in third place with a 4.8% increase to 4,237 units (3.9% share). GM Korea sales decreased by 46.9% to 2,199 units (2.0% share), and fifth Renault Korea experienced a decrease in sales of 13.8% to 1,469 units (1.3% share).
Overseas sales, including exports, decreased 1.1% at Hyundai, 44.3% at GM Korea and 40.1 % at KGM. Sales increased by 0.9% at Kia, 27.1 % at Renault Korea. In total, overseas sales decreased by 3.6% to 519,137 units.
Global sales for the five automakers in July were mixed as well, with Hyundai's global sales down 1.4% y/y to 332,003 units, Kia's sales increased 0.2% to 260,734 units, GM Korea’s sales dropped by 44.6% to 22,564 units. KGM’s sales decreased 23.4% to 8,313 units and Renault Korea’s sales increased 12.7% to 5,447 units. The overall global sales total of the five companies were 629,061 units, a decrease of 3.7%.
For the period January through July 2024, Hyundai global sales volume decreased by 0.9% y/y to 2,395,937 units, Kia decreased by 1.1% to 1,814,376 units, GM Korea increased by 14.5% to 291,986 units, KGM decreased 14.6% to 64,878 units and Renault Korea decreased 31.7% to 47,580 units.  
In terms of sales by model in July, Kia’s midsize SUV Sorento was ranked first with 7,596 units sold, followed by Kia’s MPV Carnival in second place with 7,050 units sold and Hyundai’s mid-size sedan Grandeur was third in sales with 6,287 units.

South Korea - Sales of domestic make (Jul. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Jul. 2024	Jul. 2023	Y-o-Y	Jul. 2024	Jul. 2023	Y-o-Y
	Jul.	Share *1	Jul.	Share *1
Hyundai	56,009	51.0%	57,503	50.1%	-2.6%	275,994	279,152	-1.1%	332,003	336,655	-1.4%
Kia	46,010	41.9%	47,424	41.3%	-3.0%	214,724	212,860	0.9%	260,734	260,284	0.2%
KGM	4,237	3.9%	4,043	3.5%	4.8%	4,076	6,805	-40.1%	8,313	10,848	-23.4%
GM Korea *2	2,199	2.0%	4,143	3.6%	-46.9%	20,365	36,562	-44.3%	22,564	40,705	-44.6%
Renault Korea *3	1,469	1.3%	1,705	1.5%	-13.8%	3,978	3,130	27.1%	5,447	4,835	12.7%
Total	109,924	100.0%	114,818	100.0%	-4.3%	519,137	538,509	-3.6%	629,061	653,327	-3.7%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Jul.	Share	Jul.	Share
BMW	6,380	29.0%	5,931	28.1%	7.6%
Mercedes-Benz	4,369	19.9%	5,394	25.5%	-19.0%
Tesla	2,680	12.2%	-	-%	-%
Volvo	1,411	6.4%	1,409	6.7%	0.1%
Lexus	1,108	5.0%	1,088	5.1%	1.8%
Porsche	1,012	4.6%	953	4.5%	6.2%
Audi	921	4.2%	1,504	7.1%	-38.8%
Toyota	846	3.8%	622	2.9%	36.0%
Volkswagen	836	3.8%	1,195	5.7%	-30.0%
MINI	574	2.6%	798	3.8%	-28.1%
Ford/Lincoln	500	2.3%	174	0.8%	187.4%
Land Rover	408	1.9%	408	1.9%	0.0%
Honda	235	1.1%	31	0.1%	658.1%
Chrysler/Jeep	224	1.0%	464	2.2%	-51.7%
Chevrolet	113	0.5%	539	2.5%	-79.0%
Peugeot	92	0.4%	180	0.9%	-48.9%
Cadillac	73	0.3%	73	0.3%	0.0%
Lamborghini	53	0.2%	45	0.2%	17.8%
Polestar	39	0.2%	121	0.6%	-67.8%
Bentley	35	0.2%	80	0.4%	-56.3%
GM/GMC	32	0.1%	41	0.2%	-22.0%
Maserati	21	0.1%	30	0.1%	-30.0%
Rolls-Royce	15	0.1%	29	0.1%	-48.3%
DS	-	-%	25	0.1%	-%
Jaguar	-	-%	4	0.0%	-%
Total	21,977	100.0%	21,138	100.0%	4.0%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, June 2024

Jul 1, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea decrease 16.4% in June
Five Korean automakers announced domestic new vehicle sales in June. New vehicle sales in South Korea decreased by 16.4% compared to the same month in the previous year to 111,851 units. While South Korean automakers continued to face sluggish domestic demand in June, KGM, Renault Korea, and GM Korea experienced increased exports.
By company, Hyundai Motor was the leader with sales of 59,804 units (53.5% market share), a decrease of 14.8% year-over-year (y/y), followed by Kia Motors with a 13.7% decrease to 44,003 units (39.3% share). KGM came in third place with a 28.8% decrease to 4,102 units (3.7% share). Renault Korea sales increased by 18.6% to 2,041 units (1.8% share), and fifth GM Korea experienced a decrease in sales of 63.2% to 1,901 units (1.7% share).
Overseas sales, including exports, decreased 4.4% at Hyundai, 1.7% at Kia. Sales increased by 17.2% at KGM, 5.1 % at GM Korea and 24.8 % at Renault Korea. In total, overseas sales decreased by 2.2% to 573,921 units.
Global sales for the five automakers in June were mixed as well, with Hyundai's global sales down 6.3% y/y to 351,516 units, Kia's sales decreased 3.9% to 267,036 units, GM Korea’s sales dropped by 1.9% to 48,860 units. KGM’s sales decreased 8.6% to 9,358 units and Renault Korea’s sales increased 23.4% to 9,002 units. The overall global sales total of the five companies were 685,772 units, a decrease of 4.8%.
For the period January through June 2024, Hyundai global sales volume decreased by 0.9% y/y to 2,061,883 units, Kia decreased by 1.4% to 1,551,947 units, GM Korea increased by 25.7% to 269,422 units, Renault Korea decreased 35.0% to 42,133 units and KGM decreased 13.2% to 56,565 units.  
In terms of sales by model in June, Kia’s MPV Carnival was ranked first with 8,097 units sold, followed by Kia’s midsize SUV Sorento in second place with 7,307 units sold and Kia’s compact SUV Sportage, Hyundai’s light-duty truck Porter tied for third place in sales, each with 5,815 units sold.

South Korea - Sales of domestic make (Jun. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Jun. 2024	Jun. 2023	Y-o-Y	Jun. 2024	Jun. 2023	Y-o-Y
	Jun.	Share *1	Jun.	Share *1
Hyundai	59,804	53.5%	70,163	52.4%	-14.8%	291,712	305,004	-4.4%	351,516	375,167	-6.3%
Kia	44,003	39.3%	51,002	38.1%	-13.7%	223,033	226,867	-1.7%	267,036	277,869	-3.9%
KGM	4,102	3.7%	5,758	4.3%	-28.8%	5,256	4,485	17.2%	9,358	10,243	-8.6%
Renault Korea *3	2,041	1.8%	1,721	1.3%	18.6%	6,961	5,576	24.8%	9,002	7,297	23.4%
GM Korea *2	1,901	1.7%	5,159	3.9%	-63.2%	46,959	44,672	5.1%	48,860	49,831	-1.9%
Total	111,851	100.0%	133,803	100.0%	-16.4%	573,921	586,604	-2.2%	685,772	720,407	-4.8%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Jun.	Share	Jun.	Share
Mercedes-Benz	6,661	26.3%	8,003	29.9%	-16.8%
BMW	6,172	24.4%	8,100	30.3%	-23.8%
Tesla	5,293	20.9%	-	-%	-%
Volvo	1,452	5.7%	1,372	5.1%	5.8%
Lexus	1,047	4.1%	1,655	6.2%	-36.7%
Audi	902	3.6%	1,347	5.0%	-33.0%
MINI	746	2.9%	970	3.6%	-23.1%
Toyota	660	2.6%	966	3.6%	-31.7%
Ford/Lincoln	454	1.8%	330	1.2%	37.6%
Land Rover	414	1.6%	507	1.9%	-18.3%
Volkswagen	400	1.6%	538	2.0%	-25.7%
Porsche	267	1.1%	1,109	4.1%	-75.9%
Honda	230	0.9%	111	0.4%	107.2%
Chrysler/Jeep	206	0.8%	475	1.8%	-56.6%
Chevrolet	78	0.3%	444	1.7%	-82.4%
Peugeot	76	0.3%	223	0.8%	-65.9%
Cadillac	62	0.2%	106	0.4%	-41.5%
Bentley	40	0.2%	94	0.4%	-57.4%
Lamborghini	40	0.2%	39	0.1%	2.6%
Polestar	27	0.1%	198	0.7%	-86.4%
Maserati	27	0.1%	61	0.2%	-55.7%
GM/GMC	26	0.1%	25	0.1%	4.0%
Rolls-Royce	20	0.1%	43	0.2%	-53.5%
DS	-	-%	25	0.1%	-%
Jaguar	-	-%	15	0.1%	-%
Total	25,300	100.0%	26,756	100.0%	-5.4%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, May 2024

Jun 3, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea decrease 10.6% in May
Five Korean automakers announced domestic new vehicle sales in May. New vehicle sales in South Korea decreased by 10.6% compared to the same month in the previous year to 116,552 units. The combination of delays in the delivery of hybrid vehicles, sluggish demand for electric vehicles, and high-interest rate burdens is seen as contributing to subdued consumer sentiment for new cars.
By company, Hyundai Motor was the leader with sales of 62,200 units (53.4% market share), a decrease of 9.4% year-over-year (y/y), followed by Kia Motors with an 8.3% decrease to 46,110 units (39.6% share). KGM came in third place with a 16.8% decrease to 4,001 units (3.4% share). GM Korea experienced a decrease in sales of 50.8% to 2,340 units (2.0% share), and fifth Renault Korea Motors experienced an increase in sales of 6.9% to 1,901 units (1.6% share).
Overseas sales, including exports, mixed for five Korean OEMs in May: sales increased 4.7% at Hyundai and 37.8% at GM Korea. Sales decreased by 0.6% at Kia, 18.3% at KGM and 64.3% at Renault Korea. In total, overseas sales increased by 2.8% to 569,332 units.
Global sales for the five automakers in May were mixed as well, with Hyundai's global sales increased 1.9% y/y to 356,223 units, Kia's sales decreased 2.1% to 263,929 units, KGM’s sales decreased by 17.5% to 8,130 units and Renault Korea’s sales decreased 55.9% to 6,678 units. GM Korea’s jumped 27.2 % to 50,924 units. The overall global sales total of the five companies were 685,884 units, an increase of 0.3%.
For the period January through May 2024, Hyundai global sales volume increased by 0.2% y/y to 1,709,463 units, Kia decreased by 0.8% to 1,284,527 units, GM Korea increased by 34.1% to 220,562 units, Renault Korea decreased 42.4% to 33,131 units and KGM decreased 14.0% to 47,207 units.  
In terms of sales by model in May, Kia’s midsize SUV Sorento was ranked first with 7,487units sold, followed by Kia’s MPV Carnival in second place with 7,211 units sold and Hyundai’s light-duty truck Porter was third in sales with 6,989 units.

South Korea - Sales of domestic make (May 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	May 2024	May 2023	Y-o-Y	May 2024	May 2023	Y-o-Y
	May	Share *1	May	Share *1
Hyundai	62,200	53.4%	68,680	52.7%	-9.4%	294,023	280,957	4.7%	356,223	349,637	1.9%
Kia	46,110	39.6%	50,275	38.6%	-8.3%	217,819	219,186	-0.6%	263,929	269,461	-2.1%
KGM	4,001	3.4%	4,809	3.7%	-16.8%	4,129	5,051	-18.3%	8,130	9,860	-17.5%
GM Korea *2	2,340	2.0%	4,758	3.7%	-50.8%	48,584	35,261	37.8%	50,924	40,019	27.2%
Renault Korea *3	1,901	1.6%	1,778	1.4%	6.9%	4,777	13,376	-64.3%	6,678	15,154	-55.9%
Total	116,552	100.0%	130,300	100.0%	-10.6%	569,332	553,831	2.8%	685,884	684,131	0.3%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	May	Share	May	Share
BMW	6,240	25.8%	6,036	28.3%	3.4%
Mercedes-Benz	5,947	24.6%	6,292	29.5%	-5.5%
Tesla	4,165	17.2%	-	-%	-%
Volvo	1,516	6.3%	1,502	7.0%	0.9%
Lexus	1,319	5.4%	974	4.6%	35.4%
Audi	831	3.4%	902	4.2%	-7.9%
MINI	722	3.0%	862	4.0%	-16.2%
Toyota	701	2.9%	629	2.9%	11.4%
Ford/Lincoln	627	2.6%	371	1.7%	69.0%
Volkswagen	445	1.8%	862	4.0%	-48.4%
Porsche	390	1.6%	1,005	4.7%	-61.2%
Land Rover	351	1.4%	410	1.9%	-14.4%
Chrysler/Jeep	277	1.1%	288	1.3%	-3.8%
Honda	235	1.0%	106	0.5%	121.7%
Peugeot	93	0.4%	171	0.8%	-45.6%
Chevrolet	82	0.3%	396	1.9%	-79.3%
Lamborghini	53	0.2%	58	0.3%	-8.6%
Cadillac	52	0.2%	88	0.4%	-40.9%
Maserati	51	0.2%	62	0.3%	-17.7%
Bentley	38	0.2%	79	0.4%	-51.9%
Polestar	30	0.1%	141	0.7%	-78.7%
GM/GMC	26	0.1%	53	0.2%	-50.9%
Rolls-Royce	18	0.1%	34	0.2%	-47.1%
DS	-	-%	13	0.1%	-%
Jaguar	-	-%	5	0.0%	-%
Total	24,209	100.0%	21,339	100.0%	13.4%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, April 2024

May 2, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea decreased 7.3% in April
Five Korean automakers announced domestic new vehicle sales in April. New vehicle sales in South Korea decreased by 7.3% compared to the same month in the previous year to 118,978 units. This decrease in sales aligns with a notable downturn in consumer sentiment, primarily attributed to rapid inflation and persistently high interest rates on loans and installments in the domestic market.
By company, Hyundai Motor was the leader with sales of 63,733 units (53.6% market share), a decrease of 4.4% year-over-year (y/y), followed by Kia Motors with a 3.2% decrease to 47,505 units (39.9% share). KG Mobility came in third place with a 34.4% decrease to 3,663 units (3.1% share). GM Korea sales decreased by 56.1% to 2,297 units (1.9% share), and fifth Renault Korea experienced a decrease in sales of 1.2% to 1,780 units (1.5% share).
Overseas sales, including exports, increased 5.2% at Hyundai, 1.6% at Kia, 40.1% at KG Mobility, 17.0% at GM Korea and 13.0 % at Renault Korea.
Global sales for the four automakers in April were increased, with Hyundai's global sales up 3.3% y/y to 345,840 units, Kia's sales increased 0.7% to 260,586 units, GM Korea’s sales increased by 7.7% to 44,426 units and Renault Korea’s sales increased 10.4% to 10,572 units. KG Mobility’s sales decreased 1.8% to 9,751 units. The overall global sales total of the five companies were 671,175 units, an increase of 2.6%.
For the period January through April 2023, Hyundai global sales volume decreased by 0.3% y/y to 1,352,607 units, Kia decreased by 0.6% to 1,020,352 units, GM Korea increased by 36.3% to 169,638 units, Renault Korea decreased 37.6% to 26,453 units and KG Mobility decreased 13.2% to 39,077 units.
In terms of sales by model in April, Kia’s midsize SUV Sorento was ranked first with 7,865 units sold, followed by Kia’s compact SUV Sportage in second place with 7,179 units sold and Hyundai’s mid-size sedan Grandeur was third in sales with 7,085 units.

South Korea - Sales of domestic make (Apr. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Apr. 2024	Apr. 2023	Y-o-Y	Apr. 2024	Apr. 2023	Y-o-Y
	Apr.	Share *1	Apr.	Share *1
Hyundai	63,733	53.6%	66,660	51.9%	-4.4%	282,107	268,230	5.2%	345,840	334,890	3.3%
Kia	47,505	39.9%	49,086	38.2%	-3.2%	213,081	209,747	1.6%	260,586	258,833	0.7%
KG Mobility / Ssangyong	3,663	3.1%	5,583	4.3%	-34.4%	6,088	4,346	40.1%	9,751	9,929	-1.8%
GM Korea *2	2,297	1.9%	5,230	4.1%	-56.1%	42,129	36,003	17.0%	44,426	41,233	7.7%
Renault Korea *3	1,780	1.5%	1,801	1.4%	-1.2%	8,792	7,779	13.0%	10,572	9,580	10.4%
Total	118,978	100.0%	128,360	100.0%	-7.3%	552,197	526,105	5.0%	671,175	654,465	2.6%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Apr.	Share	Apr.	Share
Mercedes-Benz	6,683	31.0%	6,176	29.5%	8.2%
BMW	5,750	26.7%	5,836	27.9%	-1.5%
Tesla	1722	8.0%	-	-%	-%
Volvo	1210	5.6%	1599	7.6%	-24.3%
Lexus	920	4.3%	1,025	4.9%	-10.2%
Toyota	893	4.1%	638	3.1%	40.0%
Audi	770	3.6%	473	2.3%	62.8%
MINI	676	3.1%	946	4.5%	-28.5%
Porsche	620	2.9%	1,146	5.5%	-45.9%
Volkswagen	566	2.6%	675	3.2%	-16.1%
Ford/Lincoln	550	2.6%	542	2.6%	1.5%
Chrysler/Jeep	281	1.3%	207	1.0%	35.7%
Land Rover	268	1.2%	459	2.2%	-41.6%
Honda	167	0.8%	55	0.3%	203.6%
Peugeot	101	0.5%	111	0.5%	-9.0%
Chevrolet	85	0.4%	706	3.4%	-88.0%
Polestar	83	0.4%	54	0.3%	53.7%
Lamborghini	60	0.3%	31	0.1%	93.5%
Cadillac	50	0.2%	66	0.3%	-24.2%
GM/GMC	36	0.2%	46	0.2%	-21.7%
Bentley	24	0.1%	45	0.2%	-46.7%
Maserati	23	0.1%	45	0.2%	-48.9%
Rolls-Royce	22	0.1%	23	0.1%	-4.3%
Jaguar	-	-%	4	0.0%	-%
DS	-	-%	2	0.0%	-%
Total	21,560	100.0%	20,910	100.0%	3.1%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, March 2024

Apr 1, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea decrease 14.6% in March
Five Korean automakers announced domestic new vehicle sales in March. New vehicle sales in South Korea decreased by 14.6% compared to the same month in the previous year to 120,289 units due to sluggish demand in its home market.
By company, Hyundai Motor was the leader with sales of 62,504 units (52.0% market share), a decrease of 16.1% year-over-year (y/y), followed by Kia Motors with a 7.6% decrease to 49,006 units (40.7% share). KG Mobility (KGM) came in third place with a 47.2% decrease to 4,702 units (3.9% share). Renault Korea Motors sales decreased by 22.6% to 2,039 units (1.7% share) and fifth GM Korea experienced an increase in sales of 20.0% to 2,038 units (1.7% share).
Overseas sales, including exports, decreased 0.7% at Hyundai, 1.2% at Kia, 60.8% at Renault Korea. KG Mobility and GM Korea overseas sales increased 25.7% and 26.3% respectively.
GM Korea experienced growth, with its Trax Crossover compact SUV model thanks to strong demand from both home and abroad.
Global sales for the five automakers in March were mixed as well, with Hyundai's global sales decreased 3.7% y/y to 369,132 units, Kia's sales decreased 2.4% to 271,711 units, KGM’s sales decreased by 21.8% to10,702 units and Renault Korea’s sales decreased 54.3% to 7,133 units. GM Korea’s jumped 26.0 % to 51,388 units. The overall global sales total of the five companies were 710,066 units, a decrease of 3.0%.
For the period January through March 2024, Hyundai global sales volume decreased by 1.9% y/y to 1,002,608 units, Kia decreased by 1.0% to 759,757 units, KGM decreased by 16.5% to 29,326 units, Renault Korea decreased 51.6% to 15,881 units, and GM Korea increased 50.5% to 125,212 units.
In terms of sales by model in March, Kia’s midsize SUV Sorento was ranked first with 8,974 units sold, followed by Hyundai’s light-duty truck Porter in second place with 8,032 units sold and Hyundai’s mid-size SUV Santa Fe was third in sales with 7,884 units.

South Korea - Sales of domestic make (Mar. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Mar. 2024	Mar. 2023	Y-o-Y	Mar. 2024	Mar. 2023	Y-o-Y
	Mar.	Share *1	Mar.	Share *1
Hyundai	62,504	52.0%	74,529	52.9%	-16.1%	306,628	308,867	-0.7%	369,132	383,396	-3.7%
Kia	49,006	40.7%	53,046	37.7%	-7.6%	222,705	225,371	-1.2%	271,711	278,417	-2.4%
KG Mobility / Ssangyong	4,702	3.9%	8,904	6.3%	-47.2%	6,000	4,775	25.7%	10,702	13,679	-21.8%
Renault Korea *3	2,039	1.7%	2,636	1.9%	-22.6%	5,094	12,985	-60.8%	7,133	15,621	-54.3%
GM Korea *2	2,038	1.7%	1,699	1.2%	20.0%	49,350	39,082	26.3%	51,388	40,781	26.0%
Total	120,289	100.0%	140,814	100.0%	-14.6%	589,777	591,080	-0.2%	710,066	731,894	-3.0%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Mar.	Share	Mar.	Share
BMW	6,549	25.9%	5,664	23.8%	15.6%
Tesla	6,025	23.8%	-	-%	-%
Mercedes-Benz	4,197	16.6%	6,533	27.4%	-35.8%
Lexus	1,218	4.8%	1,376	5.8%	-11.5%
Volvo	1,081	4.3%	2,156	9.0%	-49.9%
Volkswagen	949	3.8%	452	1.9%	110.0%
MINI	911	3.6%	786	3.3%	15.9%
Porsche	781	3.1%	1,117	4.7%	-30.1%
Toyota	759	3.0%	785	3.3%	-3.3%
Audi	653	2.6%	2,260	9.5%	-71.1%
Ford/Lincoln	589	2.3%	678	2.8%	-13.1%
Land Rover	338	1.3%	633	2.7%	-46.6%
Honda	321	1.3%	71	0.3%	352.1%
Chrysler/Jeep	294	1.2%	274	1.1%	7.3%
Polestar	219	0.9%	67	0.3%	226.9%
Chevrolet	117	0.5%	565	2.4%	-79.3%
Peugeot	94	0.4%	166	0.7%	-43.4%
Cadillac	53	0.2%	88	0.4%	-39.8%
GM/GMC	33	0.1%	70	0.3%	-52.9%
Lamborghini	31	0.1%	8	0.0%	287.5%
Maserati	22	0.1%	21	0.1%	4.8%
Rolls-Royce	15	0.1%	23	0.1%	-34.8%
Bentley	14	0.1%	35	0.1%	-60.0%
DS	-	-%	9	0.0%	-%
Jaguar	-	-%	3	0.0%	-%
Total	25,263	100.0%	23,840	100.0%	6.0%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, February 2024

Mar 5, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea decrease 20.7% in February
Five Korean automakers announced domestic new vehicle sales in February. New vehicle sales in South Korea decreased by 20.7% compared to the same month in the previous year to 99,203 units. A reduction in the number of business days in February due to the Lunar New Year holiday and the delayed announcement of subsidies for electric vehicles (EVs) impacted sales in South Korea.
By company, Hyundai Motor was the leader with sales of 47,653 units (48.0% market share), a decrease of 26.7% year-over-year (y/y), followed by Kia Motors with a 12.0% decrease to 44,008 units (44.4% share). KG Mobility (KGM) came in third place with a 44.8% decrease to 3,748 units (3.8% share). GM Korea experienced an increase in sales of 77.9% to 1,987 units (2.0% share) and fifth Renault Korea Motors sales decreased by 18.5% to 1,807 units (1.8% share). GM Korea was the only automaker to experience growth, with its Trax Crossover compact SUV model particularly in high demand.
Overseas sales, including exports, increased 1.5% at Hyundai, 56.4% at KGM, 14.2% at GM Korea and 2.8% at Renault Korea. Kia’s sales fell 2.8%.
Global sales for the five automakers in February were mixed as well, with Hyundai's global sales decreased 4.1% y/y to 314,909 units, Kia's sales decreased 4.6% to 242,356 units, KGM’s sales decreased by 9.4% to 9,452 units and GM Korea’s jumped 16.9 % to 30,630 units. Renault Korea’s sales decreased 3.8% to 6,877 units. The overall global sales total of the five companies were 604,224 units, a decrease of 3.5%.
For the period January through February 2024, Hyundai global sales volume decreased by 0.9% y/y to 632,765 units, Kia decreased by 0.2% to 487,758units, KGM decreased by 13.1% to 18,624 units, Renault Korea decreased 49.1% to 8,748 units and GM Korea increased 73.9% to 73,824 units.
In terms of sales by model in February, Kia’s midsize SUV Sorento was ranked first with 8,671 units sold, followed by Kia’s MPV Carnival in second place with 7,989 units sold and Hyundai’s mid-size SUV Santa Fe was third in sales with 7,413 units.

South Korea - Sales of domestic make (Feb. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Feb. 2024	Feb. 2023	Y-o-Y	Feb. 2024	Feb. 2023	Y-o-Y
	Feb.	Share *1	Feb.	Share *1
Hyundai	47,653	48.0%	65,015	51.9%	-26.7%	267,256	263,293	1.5%	314,909	328,308	-4.1%
Kia	44,008	44.4%	50,016	40.0%	-12.0%	198,348	204,001	-2.8%	242,356	254,017	-4.6%
KG Mobility / Ssangyong	3,748	3.8%	6,785	5.4%	-44.8%	5,704	3,646	56.4%	9,452	10,431	-9.4%
GM Korea *2	1,987	2.0%	1,117	0.9%	77.9%	28,643	25,074	14.2%	30,630	26,191	16.9%
Renault Korea *3	1,807	1.8%	2,218	1.8%	-18.5%	5,070	4,932	2.8%	6,877	7,150	-3.8%
Total	99,203	100.0%	125,151	100.0%	-20.7%	505,021	500,946	0.8%	604,224	626,097	-3.5%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Feb.	Share	Feb.	Share
BMW	6,089	37.5%	6,381	29.5%	-4.6%
Mercedes-Benz	3,592	22.1%	5,519	25.5%	-34.9%
Volvo	961	5.9%	827	3.8%	16.2%
Lexus	919	5.7%	1,344	6.2%	-31.6%
Porsche	828	5.1%	1,123	5.2%	-26.3%
MINI	755	4.6%	587	2.7%	28.6%
Toyota	736	4.5%	695	3.2%	5.9%
Ford/Lincoln	530	3.3%	566	2.6%	-6.4%
Volkswagen	462	2.8%	517	2.4%	-10.6%
Land Rover	275	1.7%	504	2.3%	-45.4%
Audi	268	1.7%	2,200	10.2%	-87.8%
Tesla	174	1.1%	-	-%	-%
Chrysler/Jeep	167	1.0%	599	2.8%	-72.1%
Chevrolet	136	0.8%	254	1.2%	-46.5%
Honda	111	0.7%	161	0.7%	-31.1%
Peugeot	106	0.7%	74	0.3%	43.2%
Cadillac	63	0.4%	65	0.3%	-3.1%
GM/GMC	20	0.1%	48	0.2%	-58.3%
Maserati	16	0.1%	21	0.1%	-23.8%
Bentley	11	0.1%	61	0.3%	-82.0%
Rolls-Royce	11	0.1%	12	0.1%	-8.3%
Lamborghini	4	0.0%	18	0.1%	-77.8%
Polestar	3	0.0%	44	0.2%	-93.2%
DS	-	-%	1	0.0%	-%
Jaguar	-	-%	1	0.0%	-%
Total	16,237	100.0%	21,622	100.0%	-24.9%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

Flash report, January 2024

Feb 2, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

New vehicle sales by 5 major OEMs in South Korea increase 2.3% in January
Five Korean automakers announced domestic new vehicle sales in January. New vehicle sales in South Korea increased by 2.3% compared to the same month in the previous year to 102,719 units.
By company, Hyundai Motor was the leader with sales of 49,810 units (48.5% market share), a decrease of 3.3% year-over-year (y/y), followed by Kia Motors with a 15.3% increase to 44,608 units (43.4% share). KG Mobility (former Ssangyong Motor) came in third place with a 47.2% decrease to 3,762 units (3.7% share). GM Korea sales increased by 183.4% to 2,894 units (2.8% share), and fifth Renault Korea experienced a decrease in sales of 22.3% to 1,645 units (1.6% share). The decline in Hyundai sales was primarily due to the temporary suspension of production at Hyundai Motor's Asan Plant in South Korea, which is currently revamping its facilities to start electric vehicle (EV) production.
Overseas sales, including exports, increased 2.8% at Hyundai, 2.0%% at Kia, 164.6% at GM Korea and 39.7% at KG Mobility. Renault Korea saw decline of 97.1%.
Global sales of five automakers in January were mixed, with Hyundai's global sales up 1.8% y/y to 315,555 units, Kia’s sales up 4.2% to 244,681 units and GM Korea’s sales increased 165.8% to 43,194 units. KG Mobility’s sales decreased 16.6% to 9,172 units and Renault Korea’s sales down 81.4% to 1,871 units.
In terms of sales by model in January, Kia’s mid-size SUV Sorento was ranked first with 9,284 units sold, followed by Hyundai’s mid-size SUV Santa Fe in second place with 8,016 units sold and Kia’s MPV Carnival was third in sales with 7,049 units.

South Korea - Sales of domestic make (Jan. 2024)

Make	Domestic Sales					Overseas Sales			Global Sales Total
	2024		2023		Y-o-Y	Jan. 2024	Jan. 2023	Y-o-Y	Jan. 2024	Jan. 2023	Y-o-Y
	Jan.	Share *1	Jan.	Share *1
Hyundai	49,810	48.5%	51,503	51.3%	-3.3%	265,745	258,620	2.8%	315,555	310,123	1.8%
Kia	44,608	43.4%	38,678	38.5%	15.3%	200,073	196,124	2.0%	244,681	234,802	4.2%
KG Mobility / Ssangyong	3,762	3.7%	7,130	7.1%	-47.2%	5,410	3,873	39.7%	9,172	11,003	-16.6%
GM Korea *2	2,894	2.8%	1,021	1.0%	183.4%	40,300	15,230	164.6%	43,194	16,251	165.8%
Renault Korea *3	1,645	1.6%	2,116	2.1%	-22.3%	226	7,929	-97.1%	1,871	10,045	-81.4%
Total	102,719	100.0%	100,448	100.0%	2.3%	511,754	481,776	6.2%	614,473	582,224	5.5%

Source: Releases by each companies
*1: Share is based on MarkLines' own calculation. (calculated from total sales of five Korean makers)
*2: Exclude sales volume of Cadillac
*3: Includes Nissan Rogue 

Registrations of new imported passenger cars

Maker/Brand	2024		2023		Y-o-Y
	Jan.	Share	Jan.	Share
BMW	4,330	33.1%	6,089	37.5%	-28.9%
Mercedes-Benz	2,931	22.4%	2,900	17.9%	1.1%
Lexus	998	7.6%	576	3.6%	73.3%
Volvo	965	7.4%	1,007	6.2%	-4.2%
Toyota	786	6.0%	265	1.6%	196.6%
Porsche	677	5.2%	726	4.5%	-6.7%
MINI	543	4.2%	279	1.7%	94.6%
Ford/Lincoln	514	3.9%	305	1.9%	68.5%
Land Rover	340	2.6%	475	2.9%	-28.4%
Chrysler/Jeep	213	1.6%	244	1.5%	-12.7%
Audi	179	1.4%	2,454	15.1%	-92.7%
Honda	177	1.4%	69	0.4%	156.5%
Chevrolet	155	1.2%	360	2.2%	-56.9%
Peugeot	101	0.8%	66	0.4%	53.0%
Cadillac	57	0.4%	75	0.5%	-24.0%
Volkswagen	53	0.4%	196	1.2%	-73.0%
GM/GMC	18	0.1%	-	-%	-%
Maserati	16	0.1%	13	0.1%	23.1%
Bentley	13	0.1%	72	0.4%	-81.9%
Rolls-Royce	9	0.1%	19	0.1%	-52.6%
Lamborghini	7	0.1%	28	0.2%	-75.0%
Tesla	1	0.0%	-	-%	-%
DS	-	-%	2	0.0%	-%
Jaguar	-	-%	2	0.0%	-%
Total	13,083	100.0%	16,222	100.0%	-19.4%

Source: Korea Automobile Importers & Distributors Association (KAIDA)

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