South Korea June 2021: Hyundai Ioniq 5 up to #15 in market down -21%
The Hyundai Ioniq 5 almost doubles its sales month-on-month.
New car sales in South Korea sink -21% year-on-year in June to 160.952 units including 134.761 sales for local carmakers (-23.6%) and 26.191 for foreigners (-4.2%). This disappointing result is partly due to the ongoing shortage of semi conductors but also to a high comparison based in June 2020 when an anticipated end of tax cuts triggered a 41.2% market surge. The year-to-date tally tilts into negative as a result at -2.6% to 901.861 units including 754.104 locals (-5.4%) and 147.757 foreigners (+15.2%). Brand leader Hyundai (-21.1%) matches the market to 34.5% share vs. 34.7% so far this year, and once again sister brand Kia (-17.9%) reduces the gap to #1 to a little more than 6.000 units thanks to a better hold. Genesis (-3.1%) resists a lot better than the market and is taking root in third place overall, selling almost double the volume of #4 Mercedes (-11%) and #5 BMW (+59.8%). It’s mission accomplished at home for Genesis whose aim at launch was to battle the German premium brands. The rest of Korean manufacturers are in dire straits: GM Korea (-38.6%), Ssangyong (-41.3%) and Renault Samsung (-59%) all fall a lot faster than the market. Further down, Honda (+134.6%), Lamborghini (+42.9%), Rolls Royce (+33.3%), Volvo (+30.7%), Volkswagen (+27.4%) and Maserati (+20.6%) defy the gloomy environment.
The VW T-Roc is up to #6 in the foreign models ranking.
In the local models ranking, the Hyundai Grandeur (-39.6%) cements its newfound YTD leadership but endures a steep year-on-year fall. In contrast, the Hyundai Porter (+20.5%) and Kia Carnival (+103.6%) both post spectacular gains to round out the podium, the latter due to a new generation. The Hyundai Sonata (-24%) is back up 5 spots on May to #4, eclipsing the Kia Sorento (-47.6%) and Hyundai Avante (-45.1%) both in difficulty. It’s a good month for light commercials, with the Kia Bongo (+4.8%) also up this month and gaining four spots on May to #7. The Kia K8 (-3.2%) resists very well thanks to a new model whereas the Kia K5 (-42.5%) and Genesis G80 (-32.2%) struggle in the remainder of the Top 10. The Hyundai Staria is up three ranks on last month to #12, becoming the best-selling recent launch above the Genesis GV70 down one to #13 and the Hyundai Ioniq 5 up 7 to #15. As far as foreign models are concerned, the Tesla Model 3 (+2.6%) reclaims the top spot above the BMW 5 Series (+37.5%) with the new Tesla Model Y rounding out the podium and the Mercedes S-Class (+180.3%) and E Class (-70.6%) completing the Top 5. The VW T-Roc is up 32 spots to #6.
Previous month: South Korea May 2021: Hyundai Grandeur #1 YTD, Staria up to #15 in market down -12.5%
One year ago: South Korea June 2020: Anticipated end of tax cuts triggers 41.2% market surge, Genesis breaks record again
Full June 2021 Top 30 All-brands, Top 60 All local models and Top 50 foreign models below.
