Korea new cars market boomed 18% in October projecting over 1.8 million sales for the 2015.

Korea new cars market SsangYong-XLV_Concept_2014

Korea new cars market boomed 18% in October projecting over 1.8 million sales for the 2015. Fueled by strong consumer’s demand generated by economic expansion and incentives this year will be memorable.

Economic Outlook

The Korean economy rebounded to a 2.6% annual expansion in Q3, which marked the best result in three-quarters. The acceleration was driven by strengthening domestic demand, although the external sector continues to suffer.

It is unclear if the economy will stabilize or gain further momentum in Q4. Consumer confidence is on the rise, having reached the highest point in five months in October, although the manufacturing PMI stalled in the same month and business sentiment remained stuck in negative territory in November.

Moreover, the impact of the government’s recent fiscal stimulus measures is set to fade and growth in exports, which represent about half of Korea’s GDP, is unlikely to recover anytime soon as China and other emerging markets slow.

Market Outlook

Following the already strong performance scored in the first three-quarters of the year, the Korean new vehicles market in October scored a huge +18% well above any observer’s expectations, fueled by a really rush to buy imported vehicles with domestic model sustained by incentives.

As released by KAMA and KAIDA, the two South Korean Associations of Automotive Manufacturers, in October  new light vehicles sales were 163.529, up 18.6% moving the year-to-date figures at 1.459.353, up 9.3% from the correspondent month last year.

October was the 8th year-on-year increase in a string and the second highest month ever. Full year volume is now projected around 1.8 million, over 130.000 more than the record scored last year.

In October the market leader Hyundai sold 67.807 units (+16.7%) with 41.5% of market share thanks to strong fleet sales. Kia, in second place sold 46.605 units (+125.9%) with share at 28.5% and GM Korea (Chevrolet, Daewoo and Lincoln) in third sold 14.675 units (+8.6%).

Fast mover is again the fourth, SsangYong with record volume at 10.008 sales (+83.5%) ahead of Renault Samsung with 7.011 (-4.7%), Mercedes with 3.713 (+5.8%) and BMW with 3.156 (-9.3%).

As far as the ranking by group, Hyundai Kia on top reported a market share declining at 70.0% followed by General Motors at 9.0% and Mahindra Group at 6.1%

The best-selling model was the Hyundai Avante with 12.838 units (+46.2%) followed by the Hyundai Sonata with 10.487 (+29.9%), the Hyundai Porter with 8.978 (+4.0%) and the last generation Hyundai Santa Fe with 8.787  (+44.0%).

To see the detailed report on the best-selling cars, with top 100 models score in the 2015, see the report we dedicated.

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.

Rank Oct Rank 2015 Brand Sales Oct Sales 2015 Var Oct Var 2015 Share Oct Share 2015
1 1 Hyundai 67.807 566.895 16,7% 1,2% 41,5% 38,8%
2 2 Kia 46.605 424.139 25,9% 13,8% 28,5% 29,1%
3 3 Chevrolet 14.675 128.671 8,6% 3,8% 9,0% 8,8%
4 4 SsangYong 10.008 79.251 83,5% 46,7% 6,1% 5,4%
5 5 Renault Samsung 7.011 63.776 -4,7% 2,8% 4,3% 4,4%
6 6 Mercedes 3.713 38.602 5,8% 28,2% 2,3% 2,6%
7 7 BMW 3.156 38.433 -9,3% 14,3% 1,9% 2,6%
8 9 Audi 2.482 25.910 28,4% 10,5% 1,5% 1,8%
9 14 Peugeot 1.071 5.933 331,9% 143,4% 0,7% 0,4%
10 8 Volkswagen 947 28.626 -46,2% 14,1% 0,6% 2,0%
11 11 Toyota 792 6.375 68,9% 20,4% 0,5% 0,4%
12 15 Land Rover 744 5.149 62,1% 41,6% 0,5% 0,4%
13 13 Lexus 731 6.031 17,1% 19,9% 0,4% 0,4%
14 12 Mini 690 6.088 -13,0% 29,8% 0,4% 0,4%
15 10 Ford 589 6.465 -30,0% -12,7% 0,4% 0,4%
16 16 Nissan 430 4.707 19,4% 38,2% 0,3% 0,3%
17 17 Jeep 417 4.012 -0,5% 18,4% 0,3% 0,3%
18 20 Volvo 326 3.352 1,9% 36,1% 0,2% 0,2%
19 19 Porsche 318 3.459 47,2% 58,6% 0,2% 0,2%
20 21 Jaguar 274 2.214 103,0% 33,1% 0,2% 0,2%
21 22 Lincoln 212 2.208 0,1% 0,2%
22 23 Infiniti 134 2.141 -51,8% -12,7% 0,1% 0,1%
23 18 Honda 132 3.802 -53,5% 25,8% 0,1% 0,3%
24 24 Chrysler 92 1.178 -30,8% 58,3% 0,1% 0,1%
25 25 Cadillac 59 639 15,7% 67,7% 0,0% 0,0%
26 28 Bentley 49 321 81,5% 20,7% 0,0% 0,0%
27 26 Fiat 33 498 560,0% -52,7% 0,0% 0,0%
28 27 Citroen 29 430 -65,9% -10,2% 0,0% 0,0%
29 29 Rolls-Royce 3 48 -50,0% 29,7% 0,0% 0,0%

Rank Oct Rank 2015 Group Sales Oct Sales 2015 Var Oct Var 2015 Share Oct Share 2015
1 1 Hyundai-Kia 114.412 991.034 20,3% 6,2% 70,0% 67,9%
2 2 General Motors 14.734 129.310 8,7% 4,0% 9,0% 8,9%
3 3 Mahindra Group 10.008 79.251 83,5% 46,7% 6,1% 5,4%
4 4 Renault-Nissan 7.575 70.624 -5,3% 4,0% 4,6% 4,8%
5 6 BMW 3.849 44.569 -10,0% 16,2% 2,4% 3,1%
6 5 Volkswagen 3.796 58.316 -3,5% 14,4% 2,3% 4,0%
7 7 Mercedes Daimler 3.713 38.602 5,8% 28,2% 2,3% 2,6%
8 8 Toyota 1.523 12.406 39,3% 20,1% 0,9% 0,9%
9 11 PSA 1.100 6.363 230,3% 118,1% 0,7% 0,4%
10 10 Tata 1.018 7.363 71,4% 38,9% 0,6% 0,5%

Rank Oct Rank 2015 Model Sales Oct Sales 2015 Var Oct Var 2015 Share Oct Share 2015
1 3 Hyundai Avante 12.838 76.849 46,2% 4,1% 8,1% 5,4%
2 1 Hyundai Sonata 10.487 85.432 29,9% -3,5% 6,6% 6,0%
3 2 Hyundai Porter 8.978 82.807 4,0% 5,5% 5,6% 5,8%
4 4 Hyundai Santa fe 8.787 71.860 44,0% 8,8% 5,5% 5,0%
5 14 Kia Sportage 7.586 36.056 158,2% -10,8% 4,8% 2,5%
6 6 Hyundai Grandeur 6.834 67.802 -4,7% -7,4% 4,3% 4,8%
7 5 Kia Morning 6.365 70.176 -30,1% -8,7% 4,0% 4,9%
8 8 Kia Carnival 6.124 56.431 84,8% 72,7% 3,8% 4,0%
9 12 Kia K5 6.000 43.611 31,8% 10,3% 3,8% 3,1%
10 7 Kia Sorento 5.954 64.593 15,3% 146,7% 3,7% 4,5%
11 9 Kia Bongo 5.673 52.844 79,9% 18,1% 3,6% 3,7%
12 11 Hyundai Tucson 5.574 46.155 47,6% 28,7% 3,5% 3,2%
13 10 Chevrolet Spark 5.435 47.626 10,5% -3,7% 3,4% 3,3%
14 16 Ssangyong Tivoli 5.237 34.885 3,3% 2,4%
15 13 Hyundai Grand Starex 3.802 40.711 -9,1% 14,8% 2,4% 2,9%
16 15 Kia K3 3.414 35.546 -8,9% -7,3% 2,1% 2,5%
17 17 Hyundai Genesis 3.248 30.294 -48,0% 12,0% 2,0% 2,1%
18 19 SsangYong Korando Sports 2.484 21.294 0,4% -9,0% 1,6% 1,5%
19 21 Samsung QM3 2.301 19.275 52,3% 68,6% 1,4% 1,4%
20 18 Kia Ray 1.855 21.348 -17,9% -18,6% 1,2% 1,5%
21 22 Kia K7 1.771 16.317 47,8% -6,6% 1,1% 1,1%
22 38 Hyundai Maxcruz 1.617 7.571 163,4% 3,1% 1,0% 0,5%
23 20 Samsung SM5 1.612 20.225 -45,2% -4,9% 1,0% 1,4%
24 24 Mercedes E Class 1.561 15.477 -0,7% 2,3% 1,0% 1,1%
25 26 Hyundai Accent 1.543 13.921 -17,4% -27,4% 1,0% 1,0%
26 55 Chevrolet Impala 1.499 3.375 0,9% 0,2%
27 25 Chevrolet Malibu 1.355 14.229 -12,7% -6,8% 0,9% 1,0%
28 43 Samsung SM7 1.323 5.376 123,9% 53,7% 0,8% 0,4%
29 23 Kia Pride 1.231 15.757 -32,6% -0,2% 0,8% 1,1%
30 27 Chevrolet Cruze 1.229 13.883 -17,8% -8,6% 0,8% 1,0%
31 35 Chevrolet Captiva 1.186 8.438 60,9% 11,2% 0,7% 0,6%
32 32 Chevrolet Trax 1.158 9.797 26,3% 17,2% 0,7% 0,7%
33 29 Samsung SM3 1.138 13.115 -32,7% -24,1% 0,7% 0,9%
34 30 SsangYong Korando C 1.064 12.982 -32,7% -19,8% 0,7% 0,9%
35 28 BMW 5 Series 988 13.447 -23,5% 8,0% 0,6% 0,9%
36 31 Audi A6 839 10.421 21,9% -3,7% 0,5% 0,7%
37 48 SsangYong Rexton W 724 4.585 48,7% -20,5% 0,5% 0,3%
38 54 Peugeot 2008 719 3.584 0,5% 0,3%
39 41 Chevrolet Orlando 699 5.895 11,0% -23,6% 0,4% 0,4%
40 46 Samsung QM5 637 5.093 -7,7% -34,1% 0,4% 0,4%

(328)

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