South Korea October 2021: Genesis G80 on podium, Hyundai Ioniq 5 in Top 10 in market down -21.6%
The Genesis G80 scores its first ever podium finish at home.
New car sales in South Korea sink -21.6% year-on-year in October to 125.188 registrations as the microchip crisis continues, with local carmakers down -21.5% to 106.424 and foreigners off -22.6% to 18.764. This is a better result than in September (-30%) but still a significant loss. The year-to-date tally is off -8% to 1.415.509 with domestic brands down -10.7% to 1.182.077 and foreigners actually up 8.1% to 233.432. Our 2021 forecast remains unchanged at 1.76 million units (-8.5%). Hyundai (-18.1%) increases its market share to a strong 37% vs. 34.4% year-to-date, while sister brand Kia (-21.2%) has to content with 30.2% of its home market vs. 31.2% so far this year. Genesis (+25.9%) goes against the grain with a fantastic year-on-year gain to surpass 10.000 monthly sales for the first time since last July. Renault Samsung (-30%) struggles year-on-year but climbs to #4, its highest ranking since June 2020, with over 5.000 units for the first time since last June. BMW (-9.3%) overtakes Mercedes (-44.9%) to become the best-selling foreign carmaker, while Audi (+4.4%), Honda (+69.1%), Porsche (+106.5%), Peugeot (+40.4%) and Citroen (+131.1%) post some of the largest gains in market.
In the domestic models ranking, the Hyundai Grandeur (-13.5%) rallies back up nine spots on September to #1 now that the interruption of activity at the local Asan plant is over. The Hyundai Sonata (+8.2%) remains in 2nd place on the back of ample inventory. The Genesis G80 (+16.2%) cracks the South Korean podium for the very first time at #3, distancing the Kia Sorento (-26.1%) up two ranks to #4 and the Kia Sportage (+198.8%) down one to #5. The Kia K8 (+126.7%) is up five spots to #6 while the year-to-date leader, the Hyundai Porter (-52.6%) craters down four ranks to #7 overall. Excellent performance of the Hyundai Ioniq 5 up five spots on September to break into its home Top 10 for the first time at #8, also breaking its volume record at 3.783. Leader last month, the Hyundai Avante (-59.5%) is down to a paltry 14th place in October. Among other recent launches, the Genesis GV70 is up 8 ranks to #16, the Hyundai Staria is down three to #17, the Kia EV6 down two to #18 and the Hyundai Casper up 22 to #20. Finally, we welcome the Genesis GV60 at #47 with 47 units sold.
As for foreign models, we have a completely reshuffled ranking. This month the Audi A6 (-17%) swoops to the overall lead vs. #21 last month, now ranking #3 year-to-date. The BMW 5 Series (-27.5%) is up two spots on September to #2, ahead of the Mercedes GLE (+183.6%) up seven to #3 and the Mercedes S-Class (+35.2%) up nine to #4. The VW Jetta is up 15 ranks to round out the Top 5 vs. #17 year-to-date. Traditional leader, the Mercedes E-Class (-65.9%) falters to #6 in October but easily retains the YTD top spot. The BMW X3 (+556%) and Volvo XC60 (#10) also shine in the remainder of the Top 10.
Previous month: South Korea September 2021: Sales down -30%, Hyundai Avante best-seller, Hyundai Casper lands
One year ago: South Korea October 2020: Kia Carnival secures first ever monthly win, sales gains slow to +1.8%
Full October 2021 Top 30 All-brands, Top 52 All domestic models and Top 50 foreign models below.
