Rising Success in the RV Market... Small Models Decline, Mid- and Large-Sized Models Gain Popularity

[Asia Economy Reporter Yu Je-hoon] The recreational vehicle (RV) market is thriving amid the car camping craze, with sales of small vehicles, which previously dominated the market, declining, while sales of mid- to large-sized vehicles are increasing.

According to Hyundai Motor Company and Kia on the 10th, the combined sales of RV vehicles from both companies in the first half of this year reached 235,066 units (excluding Genesis), marking an increase of about 6.1% compared to the same period last year. Despite setbacks such as the base effect offset from COVID-19 and production disruptions caused by the semiconductor shortage for vehicles, the popularity of RV vehicles has continued.

This stands in stark contrast to the passenger car market, which has seen a sharp decline. The combined sales of passenger cars from both companies totaled 238,728 units, down 15.7% year-on-year. Even in the premium brand Genesis, the combined sales of sedan models G70, G80, and G90 increased by about 20% to 38,462 units, but the combined sales of sport utility vehicle (SUV) models surged by approximately 101% to 34,248 units.

Meanwhile, in the RV vehicle market, sales of mid- to large-sized vehicles are relatively expanding. This trend aligns with the sedan market, where mid-large and large models are gaining popularity over compact and mid-sized cars. In fact, most of the small and compact SUV vehicles from both companies struggled. Hyundai’s Venue (-26%) and Kona (-59%), and Kia’s Niro (-28%), Seltos (-24%), and Sportage (-32%) showed relatively large declines. Only Hyundai’s Tucson performed well, benefiting from the new model effect, with sales increasing by 116% to 28,391 units.

On the other hand, Kia’s large multipurpose vehicle (MPV), the Carnival, showed strong growth with sales increasing by 167% year-on-year to 46,294 units. This ranks third among all vehicle models, following the mid-large sedan Grandeur (52,830 units) and the truck Porter (52,111 units).

Mid- to large-sized SUVs also performed relatively well. The mid-sized SUV Kia Sorento recorded the second-highest sales among RV models with a 5.6% increase to 39,974 units, while the large SUV Hyundai Palisade sold 29,541 units, down only 4.8%.

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