Strong Performance of 5 Major Automakers... Domestic and Overseas Sales Up 16% YoY Last Month

Last month, domestic automakers continued their strong performance by increasing sales both domestically and internationally.

According to the combined sales results announced on the 1st by five domestic automakers, a total of 682,820 vehicles were sold at home and abroad last month. This figure includes completely knocked down (CKD) products and imported foreign products, representing a 16% increase compared to the same period last year. Hyundai Motor Company saw an 8% increase during the same period, while other companies such as Kia (14%), Korea GM (155%), Renault Korea Motors (76%), and KG Mobility (19%) also recorded double-digit growth.

Hyundai Motor Export Shipping Dock

The cumulative sales volume from the beginning of this year through last month reached 3,279,046 units, a 13% increase compared to the same period last year. From January to May, all companies except Renault Korea showed double-digit growth in cumulative sales. A Kia official stated, "The semiconductor parts supply disruption has eased, leading to increased production volume."

Last year, production disruptions caused by shortages of vehicle semiconductors and other parts led to sluggish sales, but this year, the industry has stabilized and is showing a clear recovery trend. Additionally, the effect of new models has contributed to increased sales. Korea GM, which showed the steepest growth rate, saw increased sales of the Chevrolet Trax crossover, a compact sport utility vehicle (SUV) launched domestically in March, along with steady sales of the existing Trailblazer. Korea GM has maintained an upward trend for 11 consecutive months compared to the same month last year since July of last year.

The best-selling vehicle in the domestic market last month was Hyundai Motor’s mid-to-large sedan Grandeur, with 11,581 units sold. It was the only model to exceed 10,000 units. Hyundai’s small commercial vehicle Porter sold 8,061 units, and Kia’s multipurpose vehicle Carnival ranked second and third with 6,695 units. Hyundai’s compact sedan Avante (6,599 units), Kia’s SUVs Sorento (6,499 units) and Sportage (6,185 units) followed.

A red Renault Korea XM3 (export name Renault Arkana) new car to be exported is reversing up a slope at the shipping yard of Renault Korea Motors Busan Plant.

Additionally, Kia Bongo (5,269 units), Genesis G80 (4,813 units), Kia Seltos (4,792 units), and Ray (4,576 units) were among the top 10 best-selling models. Although export volumes by model have not yet been tallied, the Chevrolet Trailblazer is expected to rank first with over 20,000 units exported. This vehicle enjoys high overseas demand, including holding the number one market share among compact SUVs in the United States.

Given the base effect from last year’s production disruptions and rising concerns about an economic downturn in the second half of the year, it is uncertain whether the current strong trend will continue. A Hyundai Motor official said, "We will actively respond to the uncertain business environment by optimizing maximum production and sales to meet high waiting demand and focusing sales on high value-added models."

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