Both Mercedes and BMW outsell GM Korea in February: that’s a first.
* See the Top 30 brands and Top 60 local models by clicking on the title *
The South Korean new car market drops a steep 7.7% year-on-year in February to 125.360 units with a sharp decline by local manufacturers (-11.9% to 105.432) not compensated by very healthy foreign carmakers (up 22.9% to 19.928). Brand leader Hyundai almost double the market decline to tumble down 13% to 36.1% share, followed by Kia resisting a lot better at -5% to 29.5%. Ssangyong is down 13% to climbs one spot on January to land in third place. Below, we witness a first: both Mercedes (+12%) and BMW (+91%) manage to rank inside the Top 5, outselling both GM Korea (-48%) handicapped by the announcement of the closure of one of its Korean plants, and Renault Samsung (-33%). It is the first time a foreign manufacturer (let alone two) manages to outsell GM Korea at home. Hyundai’s new premium brand Genesis is up 310% year-on-year but down two spots to #8 or last Korean marque. Below, Cadillac (+78%), Toyota (+67%), Jaguar (+63%) and Peugeot (+35%) are among the biggest gainers.
The Hyundai Veloster is back into its home sales charts.
Over in the local models ranking, the Hyundai Grandeur continues to dominate the charts head and shoulders but is starting to lose momentum with a steep 18% drop in February and 14% YTD. The Hyundai Porter (-6%), Kia Sorento (+16%), Hyundai Avante (-21%) and Sonata (+14%) replicate the January Top 5, while the Hyundai Santa Fe (-31%) is up 8 spots on January to #8 and the Kia K5 (+41%) also to #9. The Hyundai Kona edges up one rank on last month to return to its home Top 10 only for the 4th time and the first time since last September. Among other recent launches, the Kia Stonic is down two spots on January to #24, the Genesis G70 also down two to #29 and the Kia Stinger up two to #35. The Hyundai Veloster makes its return in the charts thanks to the new generation at #50 with 109 sales.
Previous month: South Korea January 2018: Genesis above Renault Samsung
Full February 2018 Top 30 brands and Top 60 local models below.