Five Major Automakers Sell 135,000 Units Domestically in October... Two Consecutive Months of Growth (Comprehensive)

[Asia Economy Reporter Su-yeon Woo] The monthly domestic sales of five major automakers in South Korea recorded an increase for two consecutive months. In October, the domestic sales of the five automakers reached 135,495 units, maintaining the 130,000-unit level following September.

On the 2nd, the domestic sales of the five major automakers (Hyundai, Kia, Korea GM, Ssangyong, Renault Samsung) recorded 135,495 units, a 0.4% increase compared to the same period last year. During the same period, monthly overseas sales (exports) were 565,287 units, down 1.4% year-on-year.

Domestic sales of the Korean automakers exceeded 170,000 units in June, just before the end of the individual consumption tax reduction, but decreased to around 110,000 units in August. Since September, sales have gradually rebounded, maintaining the 130,000-unit level for two consecutive months through October.

Overseas sales (exports) are still declining compared to the previous year, but the rate of decline is gradually decreasing. In October, the overseas sales of the five automakers recorded 565,287 units, following the recovery to the 500,000-unit level in September.

Monthly Sales Performance of 5 Automakers / Data = Each Company

◆ Hyundai Motor Recovers Monthly Overseas Sales to 300,000 Units

In October this year, Hyundai Motor sold a total of 385,947 units worldwide, including 65,669 units domestically and 320,278 units overseas. Notably, Hyundai's monthly overseas sales recovered to the 300,000-unit level for the first time in 10 months since December last year.

Domestic sales increased by 1.2% compared to the same month last year. In the domestic market, the sedan Grandeur led sales with 10,926 units sold, followed by Avante with 8,316 units and Sonata with 5,670 units. SUVs sold a total of 17,028 units, including Palisade with 6,514 units, Santa Fe with 4,003 units, and Tucson with 3,063 units. The hydrogen fuel cell vehicle Nexo surpassed 10,000 cumulative domestic sales two years and seven months after its launch in March 2018.

In overseas markets, sales decreased compared to the previous year due to demand contraction caused by COVID-19 and reduced production at overseas plants. However, it was the first time since the pandemic that monthly overseas sales recovered to the 300,000-unit level.

◆ Kia Motors Shows Clear Overseas Sales Rebound After COVID-19

Kia Motors' overseas sales surpassed 200,000 units for two consecutive months, showing a clear recovery to pre-COVID-19 levels. In October, Kia's overseas sales recorded 217,705 units, a 7% increase compared to the same month last year. By model, the Sportage sold 34,386 units overseas, becoming the best-selling model abroad, followed by Seltos with 27,478 units and K3 (Forte) with 24,029 units.

In the domestic market, sales increased by 1.8% year-on-year to 48,009 units. Kia's multipurpose vehicle (MPV) Carnival ranked first in monthly sales with 12,093 units sold.

Kia Motors New Carnival

◆ Korea GM Accelerates Business Normalization with Two Consecutive Months of Domestic and Export Growth

Korea GM, accelerating its business normalization, recorded a total of 31,391 units in October (7,064 domestic, 24,327 exports), showing two consecutive months of simultaneous domestic and export growth.

Domestic sales increased by 10.5% compared to the same period last year, reaching 7,064 units. The Chevrolet Spark led domestic sales with 2,582 units sold, followed by the Trailblazer with 1,774 units. The Traverse and Colorado maintained steady sales with 301 and 515 units sold, respectively.

In the export market, sales increased by 2.4% year-on-year to 24,327 units, marking four consecutive months of growth. Notably, the Trailblazer, along with its sibling model Buick Encore GX, succeeded in exporting over 10,000 units monthly.

Chevrolet Trailblazer

◆ Ssangyong Motor Recovers Monthly Sales of 10,000 Units, Achieving Highest Sales This Year

Ssangyong Motor aggressively pursued sales strategies such as launching special new models and strengthening untact marketing, recovering monthly sales of 10,000 units in October. In October, Ssangyong sold a total of 10,197 units, including 7,612 domestic and 2,585 exports.

Domestic sales decreased by 5.4% year-on-year despite increased contract volumes due to the launch of Tivoli Air and pre-orders for Rexton, due to temporary production adjustments following the new model launch. On the other hand, exports recorded the largest monthly volume this year, increasing by 59% from the previous month to 2,585 units.

Ssangyong plans to strengthen untact marketing by launching Tivoli Air through home shopping for the first time in the domestic industry last month and preparing an online showcase for the All New Rexton early this month.

SsangYong Motor Tivoli Air

◆ Renault Samsung's Total Sales Halved Due to Export Slump in October

Renault Samsung sold 7,533 units in October, including domestic and export sales, down 49.2% compared to the previous year. Domestic sales also fell 15% year-on-year to 7,141 units, while exports were only 392 units. In the domestic market, the flagship model QM6 performed well with 4,323 units sold, and the compact SUV XM3 supported sales with 2,034 units sold.

Exports plummeted by 93% year-on-year to just 392 units. This export slump is expected to continue until the XM3's European export volume begins full-scale shipment next year.

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