Five Domestic Car Manufacturers' January Sales Down 4% Year-on-Year Due to Lunar New Year Holiday (Comprehensive)

The global sales volume in January this year of five domestic completed car manufacturers decreased by 4% compared to the same month last year. In particular, domestic sales sharply declined by 11%, falling below 100,000 units. This was due to a reduction in operating days caused by the Lunar New Year holiday, which led to decreases in both production and sales.

According to the industry on the 3rd, the total domestic and overseas sales volume of the five domestic companies (Hyundai Motor Company, Kia, Korea GM, KG Mobility, Renault Korea) in January was 593,385 units, down 3.9% from the same period last year.

By company, sales volume decreased compared to the previous year for four companies except Renault Korea (104%). It is the first time in four months since last September that the performance of the five companies turned negative.

Consumption was restrained due to the high-interest rate trend caused by the economic recession, and in Korea, the reduction in business days due to the Lunar New Year holiday affected both sales and production. At the same time, with the inauguration of U.S. President Donald Trump, uncertainty in the global economy deepened, causing exports to also slow down, according to analysis.

In particular, domestic sales of the five companies decreased by 11.8% to 90,587 units compared to the previous year. Overseas sales during the same period decreased by 2.4% to 502,623 units.

Domestic sales declined for most companies, including Hyundai Motor Company (-7.5%), Kia (-13.9%), KG Mobility (-38.9%), and Korea GM (-57.5%). Renault Korea (58%), which benefited from the new model Grand Koleos, was the only company to record an increase in domestic sales.

Despite suspending operations at its Busan plant for a month in January to establish electric vehicle production facilities, Renault Korea’s domestic sales volume increased. The Grand Koleos sold 2,040 units, driving domestic performance, with hybrid models accounting for 86% of these sales.

Kia Sorento. Provided by Kia

The best-selling domestic model was Kia’s mid-size sport utility vehicle (SUV) Sorento (7,454 units). The second was Kia’s multi-purpose vehicle Carnival (6,068 units), followed by Hyundai Motor Company’s Grandeur (5,711 units), Hyundai Motor Company’s Avante (5,463 units), and Hyundai Motor Company’s Santa Fe (4,819 units).

In overseas markets, Hyundai Motor Company (-1.4%) and Korea GM (-24.6%) showed a decline compared to the same month last year, while exports of Renault Korea (438%) and KG Mobility (5%) increased.

A Hyundai Motor Company official said, "In response to the forecast of increasing uncertainty, we plan to enhance proactive risk response capabilities and strengthen local sales and production systems," adding, "Through the launch of next-generation hybrid and electric vehicles, we will establish ourselves as a top-tier brand that global customers can trust and choose."

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