Korean domestic car sales up 14% in November

Korean domestic car sales Volkswagen-Golf_GTI_Clubsport_2016

Korean domestic car sales up 14% in November fueled by huge consumer confidence and growing space taken by imported vehicles. Volkswagen surged 64% taking the leadership among importers.

Economic Outlook

Revised data confirm that the Korean economy rebounded in Q3, with GDP expanding 2.7% annually. Growth was driven by strong domestic dynamics, although the external sector continues to be a major drag. Moreover, recent data suggest that the economy will struggle to gain further momentum in Q4.

Consumer confidence reached an over-one-year high in November. However, exports contracted again in November, the manufacturing PMI stagnated in contractionary territory in the same month and business confidence remained stuck in pessimistic territory in December amid a deterioration in sentiment among export-oriented firms.

The boost from fiscal stimulus measures introduced by the government earlier in the year is fading and exports, which represent roughly half of Korea’s GDP, are unlikely to recover soon as China and other emerging market slow.

Market Outlook

Memorable we said and memorable will be this 2015 for the domestic Korean market and also for local producers, considering that the Hyundai Group is gaining spots in the global ranking and the “minor” brands, like SsangYong and Samsung are booming sales and production.

As released by KAMA and KAIDA, the two South Korean Associations of Automotive Manufacturers, in November  new light vehicles sales had been 164.702, up a majestic 14.5% lifting the year-to-date figures at 1.624.055, up 9.8% from the correspondent month last year.

November was the 9th year-on-year increase in a string and the second highest month ever. Full year volume is now projected above the 1.8 million, over 150.000 more than the previous year record.

In November the market leader Hyundai sold 65.166 units (+16.9%) with 39.6% of market share and the follower, Kia, reported strong sales as well with 50.i31 registrations, up 12.4% while the third, GM Korea (Chevrolet, Daewoo and Lincoln) stopped down falling 7.3% at 11.446 sales.

Fast mover is again the fourth, SsangYong with record volume at 11.446 sales (+56.1%) ahead of Renault Samsung with 6.006 (-29.9%), Volkswagen with 4.517 (+65.6%) and BMW with 4.517 (+65.7%).

As far as the ranking by group, Hyundai Kia on top reported a market share declining at 69.9% followed by General Motors at 7.0% and Mahindra Group at 5.5%

The best-selling model was the Hyundai Sonata with 10.328 units (+35.3%) followed by the Hyundai Avante with 10.119 (+26.4%), the Hyundai Santa Fe with 8.879 (+46.7%) and the Hyundai Porter with 8.520 (-0.7%).

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

Research, Consulting, Data & Forecast Store

F2M covers intensively this market with several products developed to help any investigation required.

Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2020.

Auto Data in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end.

All these and more within our South Korea Store.

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 Nov Rank 2015 Brand Nov YTD Nov Var Nov Var 2015 Nov 2015
1 1 Hyundai 65.166 632.061 16,9% 2,6% 39,6% 38,9%
2 2 Kia 50.031 474.170 12,4% 13,7% 30,4% 29,2%
3 3 Chevrolet 11.446 140.117 -7,3% 2,8% 6,9% 8,6%
4 4 SsangYong 9.062 88.313 56,1% 47,6% 5,5% 5,4%
5 5 Renault Samsung 6.006 69.782 -29,9% -1,1% 3,6% 4,3%
6 8 Volkswagen 4.517 33.143 65,6% 19,2% 2,7% 2,0%
7 6 BMW 4.217 42.650 21,1% 15,0% 2,6% 2,6%
8 9 Audi 3.796 29.706 55,5% 14,8% 2,3% 1,8%
9 7 Mercedes 3.441 42.043 44,2% 29,4% 2,1% 2,6%
10 15 Land Rover 800 5.949 64,9% 44,4% 0,5% 0,4%
11 12 Lexus 768 6.799 16,7% 19,5% 0,5% 0,4%
12 14 Peugeot 745 6.678 83,0% 134,7% 0,5% 0,4%
13 13 Mini 639 6.727 -23,5% 21,7% 0,4% 0,4%
14 10 Toyota 545 6.920 -22,8% 15,3% 0,3% 0,4%
15 19 Volvo 523 3.875 68,2% 39,7% 0,3% 0,2%
16 18 Honda 414 4.216 37,1% 26,8% 0,3% 0,3%
17 16 Nissan 409 5.116 31,9% 37,6% 0,2% 0,3%
18 21 Infiniti 382 2.523 134,4% -3,5% 0,2% 0,2%
19 11 Ford 378 6.843 -42,2% -15,1% 0,2% 0,4%
20 17 Jeep 318 4.330 -19,5% 14,5% 0,2% 0,3%
21 22 Lincoln 283 2.491 0,2% 0,2%
22 23 Jaguar 268 2.482 131,0% 39,4% 0,2% 0,2%
23 20 Porsche 214 3.673 0,9% 53,5% 0,1% 0,2%
24 25 Cadillac 121 760 163,0% 78,0% 0,1% 0,0%
25 24 Chrysler 67 1.245 -58,0% 37,8% 0,0% 0,1%
26 26 Fiat 45 543 -27,4% -51,3% 0,0% 0,0%
27 28 Bentley 39 360 -17,0% 15,0% 0,0% 0,0%
28 29 DS 30 195 0,0% 0,0%
29 27 Citroen 26 456 -48,0% -13,8% 0,0% 0,0%
30 30 Rolls-Royce 6 54 20,0% 28,6% 0,0% 0,0%
Rank Nov Rank 2015 Group Nov YTD Nov Var Nov Var 2015 Nov 2015
1 1 Hyundai-Kia 115.197 1.106.231 14,9% 7,1% 69,9% 68,1%
2 2 General Motors 11.567 140.877 -6,6% 3,1% 7,0% 8,7%
3 3 Mahindra Group 9.062 88.313 56,1% 47,6% 5,5% 5,4%
4 5 Volkswagen 8.566 66.882 57,8% 18,6% 5,2% 4,1%
5 4 Renault-Nissan 6.797 77.421 -24,8% 0,7% 4,1% 4,8%
6 6 BMW 4.862 49.431 12,5% 15,9% 3,0% 3,0%
7 7 Mercedes Daimler 3.441 42.043 44,2% 29,4% 2,1% 2,6%
8 8 Toyota 1.313 13.719 -3,7% 17,4% 0,8% 0,8%
9 10 Tata 1.068 8.431 77,7% 42,9% 0,6% 0,5%
10 11 PSA 801 7.329 75,3% 117,2% 0,5% 0,5%
Rank Nov Rank 2015 Model Nov 2015 Var Nov Var 2015 Nov % 2015 %
1 1 Hyundai Sonata 10.328 95.760 35,3% -0,4% 6,4% 6,0%
2 3 Hyundai Avante 10.119 86.968 26,4% 6,2% 6,3% 5,4%
3 4 Hyundai Santa fe 8.879 80.739 46,7% 12,0% 5,5% 5,1%
4 2 Hyundai Porter 8.520 91.327 -0,7% 4,8% 5,3% 5,7%
5 5 Kia Morning 8.222 78.398 -12,0% -9,0% 5,1% 4,9%
6 6 Hyundai Grandeur 8.180 75.982 9,8% -5,8% 5,1% 4,8%
7 14 Kia Sportage 7.128 43.184 88,0% -2,4% 4,4% 2,7%
8 7 Kia Sorento 6.974 71.567 13,3% 121,3% 4,3% 4,5%
9 12 Kia K5 6.929 50.540 77,3% 16,4% 4,3% 3,2%
10 8 Kia Carnival 6.303 62.734 32,7% 67,6% 3,9% 3,9%
11 11 Hyundai Tucson 5.520 51.675 89,6% 33,3% 3,4% 3,2%
12 15 Ssangyong Tivoli 4.924 39.809 3,0% 2,5%
13 9 Kia Bongo 4.828 57.672 -14,1% 14,5% 3,0% 3,6%
14 10 Chevrolet Spark 4.473 52.099 -4,9% -3,8% 2,8% 3,3%
15 13 Hyundai Grand Starex 3.857 44.568 -7,2% 12,5% 2,4% 2,8%
16 16 Kia K3 3.755 39.301 -19,1% -8,6% 2,3% 2,5%
17 17 Hyundai Genesis 2.657 32.951 -45,7% 3,2% 1,6% 2,1%
18 20 Samsung QM3 2.267 21.542 -33,9% 44,9% 1,4% 1,3%
19 22 Kia K7 2.092 18.409 21,1% -4,1% 1,3% 1,2%
20 18 Kia Ray 2.038 23.386 7,8% -16,9% 1,3% 1,5%
21 19 SsangYong Korando Sports 2.033 23.327 -14,9% -9,6% 1,3% 1,5%
22 25 Hyundai Accent 1.702 15.623 -6,6% -25,6% 1,1% 1,0%
23 24 Mercedes E Class 1.538 17.015 149,7% 8,1% 1,0% 1,1%
24 23 Kia Pride 1.527 17.284 3,9% 0,1% 0,9% 1,1%
25 35 Hyundai Maxcruz 1.500 9.071 134,0% 13,6% 0,9% 0,6%
26 31 Audi A6 1.285 11.706 55,6% 0,5% 0,8% 0,7%
27 26 Chevrolet Cruze 1.281 15.164 -7,6% -8,5% 0,8% 1,0%
28 39 Volkswagen Tiguan 1.228 8.269 63,7% 11,9% 0,8% 0,5%
29 32 Chevrolet Trax 1.116 10.913 33,7% 18,7% 0,7% 0,7%
30 21 Samsung SM5 1.088 21.313 -58,3% -10,7% 0,7% 1,3%
31 28 BMW 5 Series 1.080 14.527 -30,2% 3,8% 0,7% 0,9%
32 34 BMW 3 Series 1.055 9.199 73,8% 5,6% 0,7% 0,6%
33 29 Samsung SM3 1.023 14.138 -30,2% -24,5% 0,6% 0,9%
34 57 Volkswagen Jetta 1.000 3.644 300,0% 16,9% 0,6% 0,2%
35 30 SsangYong Korando C 981 13.963 -53,5% -23,7% 0,6% 0,9%
36 43 Samsung SM7 975 6.351 80,6% 57,3% 0,6% 0,4%
37 27 Chevrolet Malibu 848 15.077 -39,6% -9,6% 0,5% 0,9%
38 54 Chevrolet Impala 839 4.214 0,5% 0,3%
39 41 Mercedes C-Class 738 7.219 84,5% 15,9% 0,5% 0,5%
40 36 Volkswagen Golf 708 8.907 -19,2% 50,5% 0,4% 0,6%

 

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