Korean Vehicles Market in 2020 is hit by a large loss. Several local factories suspended production due to component shortage caused by the Coronavirus outbreak. Indeed, year-to-date figures in February have been 214.216, down 17% from the previous year.
Korean Vehicles Market was marginally declining in 2019 while remaining not far from the best level ever. Indeed, the Full-year ended with 1.77 million sales, down 1.9% from the previous year. Hyundai and Kia still dominated, while their combined market share at 67.3% fell down over 7 points from 2012.
Korean Vehicles Market in 2018 registered a marginal improvement – up 1.3% from last year – ending with 1.806.609. Importers improved their mix at 14.6% thanks to the re-start of Volkswagen operations while General Motors has lost 29%.
Korean Autos Market in the 2017 slipped 1.7%, due to a slow first half, scoring the third performance all-time. Propelled by booming economy, the 2018 outlook is positive. Importers share at 13.1%, with Mercedes & BMW fight for leadership.
South Korea Vehicles Market 2016 hasn’t beaten the all time record of the previous year just for 12.200 units, not fueled by weakening fundamentals and the political fallout.
South Korea Vehicles Market in 2015 boomed at the all time record, first time above the 1.8 million units joining for the first time the Top 10 World’s markets. Hyundai Group has lost share while SsangYong shines.
South Korean Car Market hit New All-time record in 2014 thanks to a sparkling December with sales boomed and many importers doubling sales volume. Nissan-Renault Alliance jumped at 13% market share.