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South Korea February 2022: Hyundai Porter and Kia Bongo on top, Hyundai Ioniq 5 up to #7

The Kia Bongo is up to a record 2nd place in February, with the EV variant at 46.4% of sales.

The South Korean new light vehicle market is down -0.7% year-on-year in February to 122,728 units including 103,274 domestic models (+1.9%) and 19,454 foreigners (-12.7%). The year-to-date total stands at 233,989 units, down -11.1%, with domestic models down -9.8% to 191,174 and foreigners down -17.5% to 36,815. Hyundai (-6.2%) reclaims the top spot off sister brand Kia (+5.3%) while Genesis (+50.5%) remains third. In fact, Genesis sold more than Ssangyong, Renault Samsung, and GM Korea combined. Mercedes (+4.6%) is up three spots on January to #4, passing BMW (-0.1%). Ssangyong (+69.8%) registers a stellar increase due to production stoppage in February 2021. Sales at Renault Samsung (-4.7%) fall below the 4,000 mark for the first time in a year: since February 2021. GM Korea implodes -52% due to the construction of new production facilities at its Bupyeong and Changwon plants. Construction was completed last month, but full-fledged production only started in the middle of the month. Strikingly, the rest of the Top 15 all fall by double-digits, with Honda (+16.4%), Peugeot (+157.7%), Bentley (+250%) and Rolls Royce (+4.5%) defying the negative market with year-on-year gains.

Looking at the models ranking, for the first time we have two LCVs atop the charts: the Hyundai Porter (+4.8%) and its twin the Kia Bongo (+26.7%) up to a record 2nd place. Note 46.4% of the Bongo volume goes to the EV variant vs. 37% of the Porter. The two models are also the best-sellers year-to-date which is unheard of. The Kia Sorento (-3.4%) slips into the podium despite a negative showing, while last month’s leader the Genesis G80 (+71.5%) falls to #4 but still displays insolent health. Both the Hyundai Grandeur (-47.6%) and Sonata (-0.2%) return inside the Top 6 after a month of January hampered by production issues. In 7th, the Hyundai Ioniq 5 jumps up 28 spots on January and breaks its ranking and volume records. The Kia Sportage (+176.8%) continues to be lifted by the new generation but drops three ranks on January to #9. Other great performers include the Ssangyong Rexton Sports (+325.4%), Genesis G90 (+147.2%), Kia Niro (+140.1%), Kia K8 (+91.9%), Genesis G70 (+90.2%) and Kia Ray (+42%).

The Mercedes E-Class reclaims the top spot in the foreign models ranking, both for the month (+41.7%) and year-to-date (-1.9%) while the BMW 5 Series (+12.2%) is bumped down to #2. The Mercedes S-Class (+1279%) remains at an outstanding third place. The BMW X5 (+44.4%) is up one rank to #4 just as the Mercedes CLA (+1904.2%) leaps from outside the January Top 50 directly to #5. The BMW X6 is up 41 spots to #8, with the BMW X7 (+38%), X4 (+91.5%), VW T-Roc (+151.5%), Tesla Model 3 (+1350%), Audi Q5 (+730%) and BMW 4 Series (+107.5%) in great shape further down.

Previous month: South Korea January 2022: G80 first ever Genesis to rank #1, Kia outsells Hyundai for 2nd time

One year ago: South Korea February 2021: Market rallies up 25.6%, new Hyundai Tucson shines, Genesis GV70 in Top 15

Full February 2022 Top 30 All-brands, Top 52 All-local models and Top 50 foreigners below.

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