This Year Again, 'SUV Sales Speed Ahead'...Automakers Target Market with New Models

[Asia Economy Reporter Ki-min Lee] As the COVID-19 pandemic has established cars as another living space, sports utility vehicles (SUVs) with high space utilization are expected to achieve strong sales again this year. Accordingly, domestic and foreign automakers are planning to increase their market share by launching new SUV models.

According to the Korea Automobile Manufacturers Association (KAMA) on the 12th, new SUV registrations in South Korea increased by 15.8% compared to 2019, accounting for 48.3% of total registrations last year. Sales of large SUVs rose by 58.4% year-on-year.

The industry attributes this record to increased time spent driving personal vehicles instead of using public transportation due to COVID-19, along with the popularity of hobbies such as car camping.

This trend continues this year as well. According to data from the research institute Kaizyou, sedan registrations last month recorded 49,602 units, down 7.8% compared to January last year, while SUVs recorded 60,307 units, up 31.1% year-on-year.

Hyundai Ioniq 5 Teaser Image

First, Hyundai Motor, which introduced new SUVs such as the new Tucson, GV70, and GV80 last year, plans to launch the electric vehicle Ioniq 5 based on the electric vehicle-exclusive platform G-EMP. Kia, which released a new Sorento after six years, will launch the new Sportage in the first half of this year.

SsangYong Motor, once known as a domestic SUV powerhouse, plans to introduce its first compact electric SUV, the E100, to attract customers once its sale is finalized and the rehabilitation process is successfully completed.

Imported car companies are also introducing various models this year in line with the domestic SUV popularity. Bentley Motors Korea officially launched the new luxury SUV Bentayga in Korea last month. The newly released Bentayga is a facelift version of the first-generation model launched in 2015.

Lincoln Korea plans to release the New Lincoln Navigator, a flagship model and an upgraded version of the Aviator launched last year. Cadillac will introduce the compact SUV XT4 and the fully redesigned fifth-generation large SUV Escalade this year.

Ford, which launched the premium model New Ford Explorer Platinum of the large SUV Explorer last month, plans to release the New Ford Expedition targeting customers who enjoy leisure activities such as car camping.

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