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South Korea July 2020: Hyundai (+18.7%), Genesis (+168%), VW Group (+381.7%) stun in 5th straight positive month (+9.2%)

The Hyundai Avante hits its largest volume in 4 years.

The South Korean new car market is full steam ahead again in July, securing a 5th consecutive positive month at +9.2% to 161.694 units. Local manufacturers soar 10.4% to 141.916 while foreigners are more muted at +1.7% to 19.778. Year-to-date volumes are up a sturdy 7.5% to 1.087.306 units including 939.292 locals (+6.4%) and 148.014 foreigners (+14.9%), this time the more dynamic segment. Brand leader Hyundai (+18.7%) more than doubles the market growth rate to reach 39.6% share vs. 36.5% so far in 2020, whereas sister brand Kia (-0.02%) is almost immobile which is a counter-performance in these euphoric times. Genesis (+168%) continues to surf on its complete reshuffle, and although it doesn’t break its all-time volume record this month, it aligns a 4th straight five-digit monthly volume and steps up to a record third place for the second time in 3 months.

Genesis is up to #3 brand at home in July.

GM Korea (+3.9%) overtakes Ssangyong (-23%) and Renault Samsung (-24.2%), both struggling, to rank #4 overall. Mercedes (-29%) remains by far the most popular foreign carmaker in South Korea despite a trend-bending freefall, it is followed by BMW (+1.6%) and Audi (+117400%) recovering from a stop sale order last year. Porsche (+153.9%), Volkswagen (+105.5%), Infiniti (+64.9%), Lamborghini (+41.2%) and Volvo (+23.4%) also shine but Honda (-72.4%), Jaguar (-69.8%), Peugeot (-56.8%), Citroen (-50.3%), Jeep (-41.9%) and Land Rover (-41%) implode.

Porsche sales shoot up 153.9% year-on-year in South Korea.

Over in the models ranking, the Hyundai Grandeur (+134.4%) enjoys a 4th straight win and 7th pole position in the past 9 months just as 5 of the Top 6-ranked nameplates all double their sales year-on-year or more thanks to new generations. The Hyundai Avante (+95.2%) advances to #2 and achieves its largest monthly volume since June 2016 at 11.037, toppling the Kia Sorento (+199.7%) while the Kia K5 (+194.5%) drops one spot on June to #5 and the Genesis G80 (+276.8%) remains at #6. The Hyundai Palisade (+65.9%), Grand Starex (+46.5%), Kia Seltos (+18.9%) and Kia Ray (+17.1%) also impress in the remainder of the Top 20. The Genesis GV80 (#14) is the best-selling recent launch above the Chevrolet Trailblazer (#20) and Samsung XM3 (#23).

The Audi e-Tron is already among the 10 best-selling foreign nameplates in South Korea.

The Mercedes E-Class (-27%) easily remains the most popular foreign nameplate in South Korea despite losing over a quarter of its June 2019 volume. It distances the BMW 5 Series back up to the 2nd place it holds YTD, the VW Tiguan up one spot on June, the Audi A6 down two to #4 and the Porsche Cayenne (+634.9%) up 7-fold on a year ago and 6 ranks on June to #5. Finally, notice the arrival in the foreigner Top 10 of the new Audi e-Tron selling just under 400 units for its first full month on sale in South Korea.

Previous month: South Korea June 2020: Anticipated end of tax cuts triggers 41.2% market surge, Genesis breaks record again

One year ago: South Korea July 2019: Kia K7 up to record #2, Kia Seltos and Hyundai Venue land

Full July 2020 Top 30 All-brands, Top 56 All-local models and Top 10 foreign models below.

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