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South Korea
Automotive sector overview With over 4.5 millions light passenger vehicles produced in 2010, South Korea is the world’s 5th automotive producer. Domestic producer are Hyundai, Kia (partially controlled by Hyundai), Ssanyong, Samsung (25% controlled by Renault) and Daewoo (controlled by GM Group). South Korea domestic light vehicle industry is the 12th globally.
Country Overview 49 millions people living in only 100.000 km2, working hard to conquest the world: that’s the fuel of Korean growth as high-tech industrialized economy. In 2011 with a GDP (at purchasing power parity) of $ 1.554 trillion, the country is the 13th economy globally and the per capita GDP at $ 31.700 is 40th ahead of countries like Italy and Spain, with a fast growing rate that project this country ahead to European Community by 2015. The unemployment rate is among the best globally (at 3.4% in 2011) with a Central Bank discount rate at 1.5% (Dec. 2011) in spite rising inflation rate (now at 4.2, was 3.0 in 2010). National Budget is producing a surplus (2,2% or $ 25.000 billions in 2011) and the Public Debt is only 22.5% of GDP (the 22th lower globally). South Korea is the world's 5th largest nuclear power producer (2nd in Asia). Nuclear power in South Korea supplies 45% of electricity production.
South Korea car market soared 2% in April when Volkswagen smashed a new all-time record share.
18 May 2013
In April, the car market in South Korea was up 2.6% partially recovering on cumulated sales data, now down only 1.3% from last year. While Mercedes confirmed the growing trend, Volkswagen increased the share at 1.7%, new all-time record here.
South Korea Car Market slipped 1% in March 2013. SsangYong sales were up.
19 April 2013
Following the double digit decline posted in the previous month, in March the South Korean car market lost only the 1.2%. The first quarter ended down by 2.7% from last year. Among domestic producer SsangYong gained space.
South Korea Car Market down 11% in February while Importers are at 10% of share.
26 March 2013
In February 2013, the car market in South Korea posted a double digit decline, more than offsetting the good start scored in January. YTD sales were down 3.6%. BMW and Audi started the year with considerable share increase leading Importers attack at Koreans dominion.
South Korea Car Market was up 5% in January 2013. SsangYong soared in 4th place.
17 February 2013
Following a negative 2012, the New Year started moderately positive for the South Korean car market, which posted a 5.0% increase over last year. SsangYong outpaced Renault Samsung for the 4th place, while BMW posted new record sales.
South Korea Car Market lost 4% sales in the 2012. Hyundai Avante on top.
22 January 2013
In December the car market in South Korean was flat from last year. The 2012 ended losing 4% from 2011 in spite of partial recover posted since September consumption tax cut. Hyundai is stable at 43% of market share with 5 models in Top 6.
South Korea car market rose 12% in November 2012.
23 December 2012
The South Korean car market posted a double digit increase in November, partially recovering from the weak sales shown during all this year, with year-to-date November sales were down 4.5%. The government car consumption tax cut was positively influencing the market.
South Korea car market was up 6% in October 2012.
15 November 2012
Following four consecutive negative months, the South Korean car market was positive back in October with a 6.7% increase. YTD sales were down 6.1%. Hyundai dominated the market with 44% of share, with Kia at 29%.
South Korea car sales in September 2012 fell 6%. German brands up.
16 October 2012
The South Koreans car market in September posted the 4th consecutive decline with 127.933 sales, down 6.6% from last year. Year-to-date sales were 1.116.631, down 7.5%. All importers are growing, with BMW, Mercedes and Volkswagen towards their records.
South Korea car market collapsed in August with sales 25% down.
24 September 2012
The South Koreans car market August performance was awful, when 96.114 sales were down 25.1% from last year. Year-to-date August sales were 988.698, down 7.6%. However, BMW, Volkswagen and Audi posted their record share.
South Korea car sales dropped 6% in July. Hyundai and Kia at 75% share.
29 August 2012
The South Koreans car market dropped again in July 2012 with sales at 131.336, down 6.5% from last year. Year to date sales in July were 892.582, down 5.2% from 2011. Hyundai and Kia together were selling more than 75% of total sales.
South Korea car market: I Half 2012 down 5%. BMW share at 2%
17 July 2012
South Korea's car sales were 133.949 in June, posting a 4.7% decline from last year, with the ninth negative month out of the last ten. Year to date 2012 sales at 737.493 were down 5.0% from 2011. Importers were at 7.9% of share, led by BMW.
South Korea car industry: April 2012 down 6.4%. Hyundai dominates.
04 June 2012
South Korea's car sales were 128.721 in April, posting a 6.4% decline from last year, with the seventh negative month out of the last eight. Year to date 2012 sales at 495.071 were down 6.6% from 2011. Hyundai dominates.
South Korea car industry - industry overview updated at February 2012
22 March 2012
Automotive industry has been crucial for the fast development of South Korea economy over last 25 years. In the nineties' the huge development of domestic production up to 3 millions vehicles was pursing the "invasion" of global market through creating local employment and income.