COVID-19 Resurgence and Holidays... August Domestic Sales of Automakers Down 22.6% from Previous Month (Comprehensive)

[Asia Economy Reporter Kiho Sung] In August, domestic sales by five Korean automakers (Hyundai, Kia, Ssangyong, Renault Samsung, and Korea GM) recorded 111,847 units, showing a 5.6% decrease compared to the same month last year. The resurgence of COVID-19, reduced business days due to summer vacations, and the reduction of individual consumption tax benefits starting from July are believed to be the causes.

According to the five domestic automakers on the 1st, August domestic sales volume was down 22.6% compared to the previous month (144,422 units).

By company, Hyundai sold 54,590 units, showing about a 3.2% increase compared to the same month last year. However, except for Hyundai and Korea GM (-8%), the other automakers all showed double-digit sales declines.

Last month, the five automakers' overseas sales totaled 461,432 units. Although this was an 11.7% decrease compared to the previous year, it was about a 5% increase compared to the previous month.

◆ Hyundai Motor, 'The Power of New Cars'

Hyundai Motor showed the only increase in performance compared to the same period last year by selling 54,590 units in the domestic market, a 3.2% increase year-on-year.

Sedans led domestic sales with the Grandeur (including 3,216 hybrid models) selling 10,235 units, followed by the Avante with 5,792 units, and Sonata (including 544 hybrid models and 1,447 LF models) with 4,595 units, totaling 21,047 units sold.

RVs sold a total of 15,599 units, including Santa Fe with 6,224 units, Palisade with 4,433 units, and Tucson with 1,664 units.

Premium brand Genesis led sales with the G80 selling 4,100 units, followed by GV80 with 1,810 units, G90 with 704 units, and G70 with 448 units, totaling 7,062 units sold.

◆ Kia Motors, Decrease in Both Domestic and Overseas Sales

Kia Motors sold 38,463 units domestically in August, down 11.3% compared to the same month last year. The decrease in supply volume due to partial line reorganization construction at the Hwaseong plant is cited as a cause.

The best-selling vehicle was the Sorento (6,116 units), marking the top monthly sales for Kia for five consecutive months. Passenger models sold a total of 14,645 units, including K5 with 3,944 units, Morning with 3,606 units, Ray with 2,518 units, and K7 with 2,172 units. RV models, including the Sorento, sold a total of 19,770 units, including Carnival with 5,622 units, Seltos with 3,277 units, and Niro with 1,498 units.

Kia's overseas sales in August recorded 178,482 units, down 3.7% year-on-year. By model, the Sportage sold 29,816 units, becoming the best-selling overseas model, followed by Seltos with 27,437 units and K3 (Forte) with 15,835 units.

◆ Korea GM, Export Performance Supported by Trailblazer

Korea GM sold 5,898 units domestically and 21,849 units for export, totaling 27,747 units in August.

In particular, exports in August increased by 20.7% compared to the same month last year, marking two consecutive months of growth following July. Among these, the Trailblazer, along with its sibling model, the Buick Encore GX, exported a total of 11,391 units, driving performance.

Meanwhile, domestic sales recorded 5,898 units, down 8% compared to the same month last year.

◆ Ssangyong Motor, 7.2% Increase Compared to Previous Month

Ssangyong Motor sold a total of 8,027 units in August, including 6,792 units domestically and 1,235 units for export.

Domestic sales recorded a 15.5% decrease compared to the same month last year, but increased by 1.3% compared to the previous month due to the launch of special models and strengthened online promotions through home shopping.

Exports showed a 56.9% increase compared to the previous month, marking a recovery exceeding 1,000 units for the first time in five months since March.

◆ Renault Samsung, New SM6 Effect Expected from September

Renault Samsung Motors sold 6,104 units domestically in August, down 21.5% compared to the same period last year. Exports during this period recorded 1,466 units.

The model that played the biggest role in domestic sales in August was THE NEW QM6. THE NEW QM6 led domestic sales with 3,317 units sold, a 25.7% increase compared to the previous month.

THE NEW SM6, which was facelifted and introduced in mid-July, sold 562 units in August. Renault Samsung stated that considering the actual full-scale supply started from late August, as well as factors such as the summer vacation period and COVID-19 situation in August, full-scale sales performance is expected to appear from September.

Renault Samsung's exports in August decreased by 71.9% compared to the same period last year.

This content was produced with the assistance of AI translation services.