Five Domestic Automakers' September Domestic Sales Increase by 23.3%... Recovery Also Seen Overseas (Comprehensive)

September Overseas Sales Also Narrowed Decline to '-2%'
Domestic and Overseas Sales Increased Year-on-Year for the First Time Since April

Korea GM Performs Well in Both Domestic and Export Markets
Renault Samsung and Ssangyong Motor Face Export Slump

[Asia Economy Reporter Kim Ji-hee] In September, domestic sales of the five major Korean automakers surged by more than 20% compared to the same period last year. Although domestic sales, which had supported overall sales performance amid the COVID-19 pandemic, slowed somewhat in the previous month, they returned to an upward trend within a month.

According to industry sources on the 5th, the domestic sales volume of the five major Korean automakers (Hyundai Motor Company, Kia Motors, Korea GM, Renault Samsung Motors, Ssangyong Motor) last month was recorded at 138,530 units, a 23.3% increase compared to the same period last year. Monthly sales of Hyundai and Kia increased by 33.8% and 21.9%, respectively, while Korea GM and Ssangyong also recorded double-digit growth rates. As a result, domestic sales, which showed negative growth in August, turned back to an increase compared to the previous year.

Overseas sales are also showing steady recovery. Overseas sales fell by more than 60% compared to the previous year in April, marking the worst performance, but have since recovered to -32.6% in June, -14.1% in July, and -11.7% in August, reducing the decline to -2% last month. If this trend continues, sales volume recovery to a level similar to last year can be expected this month.

Accordingly, the global sales volume, combining domestic and overseas sales of the five companies, increased by 2.3% compared to the same period last year. This is the first time since the COVID-19 pandemic began in earnest in April that sales have exceeded last year's figures.

◆ Hyundai Motor Company Continues Domestic Sales Growth... Overseas Market 'Not Yet'

In September, Hyundai Motor Company sold a total of 360,762 units worldwide, including 67,080 units domestically and 293,682 units overseas. Compared to the same period last year, domestic sales increased by 33.8%, while overseas sales decreased by 11.2%.

The sales boost in the domestic market was led by the Grandeur and Avante models. Grandeur recorded 11,590 units, and Avante 9,136 units, bringing Hyundai's sedan sales to 25,916 units. For recreational vehicles (RVs), the Palisade sold 5,069 units, Santa Fe 4,520 units, Kona 3,109 units, and Tucson 2,196 units, totaling 16,930 units.

The premium brand Genesis also performed well, achieving sales exceeding 10,000 units. The G80 sold 6,040 units, GV80 2,918 units, G90 882 units, and G70 451 units.

However, overseas sales declined due to reduced demand caused by the COVID-19 pandemic, which led to decreased production at overseas plants.

4th generation Carnival (Photo by Kia Motors)

◆ Kia Motors Performs Well Both Domestically and Overseas... Domestic Sales Led by Carnival, Overseas by Sportage

In September, Kia Motors sold 260,023 units, a 10.3% increase compared to the same period last year. Domestic and overseas sales increased by 21.9% and 7.7%, respectively.

Domestically, the Carnival was the top-selling model with 10,130 units sold. Along with the Carnival, the Sorento sold 9,151 units and the Seltos 3,882 units, bringing total RV sales to 27,707 units. Passenger car sales totaled 17,275 units, including the K5 with 7,485 units, Morning 2,437 units, K7 2,344 units, and Ray 2,294 units, which was over 10,000 units less than RV sales.

Overseas sales also increased. Last month, Kia Motors sold 208,812 units overseas, a 7.7% increase compared to the same period last year. The Sportage led with 32,736 units, followed by the Seltos with 27,262 units, and the K3 (Forte) with 21,212 units.

A Kia Motors official said, “We will overcome difficulties by leveraging competitive new models such as the Sorento gasoline 2.5 turbo model scheduled for release in the fourth quarter, following the Sorento and Carnival.”

◆ Korea GM Smiles in September with Export Doubling

Korea GM received a positive report card as both domestic sales and exports increased compared to last year. Exports, in particular, more than doubled. Last month, domestic sales recorded 6,097 units, a 17.9% increase compared to the same period last year. The Chevrolet Spark led domestic sales with 2,689 units sold. The Trailblazer also contributed with 1,593 units sold.

Notably, exports stood out. Korea GM's exports increased by more than double compared to last year, reaching 34,447 units. This marks three consecutive months of growth since July. The Trailblazer has led performance improvements in both domestic and export markets. The Trailblazer, along with its sibling model, the Buick Encore GX, exported a total of 20,053 units, achieving the highest monthly record since shipment began.

Trailblazer (Photo by Korea GM)

◆ Despite New Model Launch... Renault Samsung's Domestic Sales Down 24.1%

Renault Samsung sold 5,934 units in the domestic market last September, a 24.1% decrease compared to the same period last year. Exports also declined, resulting in total sales last month of 7,386 units, less than half of the same period last year.

The QM6 single-handedly led more than half of the total domestic sales. The QM6 sold 3,187 units, with the LPe model, the only LPG sports utility vehicle (SUV) in Korea, accounting for 1,964 units, or 61.6% of total QM6 sales. Renault brand models recorded 69 units of Twizy, 226 units of Captur, and 152 units of Master. The electric vehicle Zoe, introduced to the domestic market in mid-August, sold 128 units last month.

Exports suffered from delayed allocation of new models. Renault Samsung's exports plummeted by 80.4% compared to the same period last year.

◆ Ssangyong Motor Also Faces Export 'Halving'... Domestic Sales Increase for Two Consecutive Months

Ssangyong Motor was not spared from the shock of export sluggishness. Domestic sales in September increased by 13% compared to the previous year, but exports halved (-46.7%), resulting in an overall sales decrease of 4.4%.

At least the upward trend in the domestic market is positive. Through expanded promotional activities both online and offline, domestic sales increased by 20.8% compared to the previous month. This marks two consecutive months of growth since July.

In particular, three special models, including the Rexton Sports Dynamic Edition, led the recovery thanks to untact marketing activities. The Rexton Sports recorded 1,511 units last month, nearly doubling compared to the previous year and almost tripling compared to the previous month.

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