Kia Overtakes Hyundai Motor In October Domestic Sales
Kia overtook Hyundai Motor, including Genesis sales, by a margin of about 2,000 units in October to become the top-selling domestic automaker. While the competition between Hyundai Motor and Kia intensifies, the three mid-sized automakers (Renault Korea, KG Mobility, and GM Korea) are seeing their p
In October, Kia Motor surpassed Hyundai Motor to become the leading domestic automaker, outpacing its rival by roughly 2,000 units. While the rivalry between Hyundai and Kia intensifies, mid-sized automakers Renault Korea, KG Mobility, and GM Korea are experiencing a decline in their market presence, with combined sales accounting for only 10% of Kia's.
In October, the five domestic automakers sold a total of 105,588 units, marking a 3.1% increase compared to the previous year. Kia's domestic sales grew by 27.5% year-on-year, reaching 51,007 units, while Hyundai's sales declined by 8.9% to 49,042 units. The Kia Sportage led the RV sales in South Korea, with 7,708 units sold, while the Toyota Ray was the best-selling passenger car with 4,497 units.
Hyundai, despite the strong sales of its flagship models, including the Grandeur and Avante, saw an overall domestic decline. To boost sales competitiveness, Hyundai plans to introduce new hybrid vehicles. Mid-sized automakers collectively sold only 5,539 units in October, falling short of Kia's sales volume. Renault Korea, the top seller among the three mid-sized companies, sold 2,703 units, showing a recovery trend after three consecutive months of growth since August.
However, it still falls short of 3,000 units per month. KGM's sales dropped to the low 2,000 range, with Renault Korea and KGM's combined sales accounting for only 1/10 of Kia's. GM Korea had the poorest performance among the three mid-sized companies, selling only 799 units domestically.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
