South Korea February 2023: Hyundai Porter and Hyundai Grandeur top market up 19.7%
Hyundai Grandeur sales are up 118.6% thanks to a new generation.
New vehicle sales in South Korea increase by a robust 19.7% year-on-year in February to 146,877 units, including 125,240 local models (+21.3%) and 21,637 foreigners (+11.2%). Year-to-date, the market is now up 12.9% to 264,267 sales, that includes 226,408 locals (+14.8%) and 37,859 foreigners (+2.8%). Hyundai (+31.7%) largely outraces its home market to hold onto the brands top spot for the third consecutive month and the 5th time in the past 6 months with a splendid 37.7% share. Sister brand Kia (+26.7%) also over-performs at #2 and 34.1% share. Genesis (-12%) remains below the 10,000 monthly unit mark at #3 while Ssangyong (+49.4%) lodges another stellar gain thanks to the new Torres. For the 2nd time in a row, BMW (+12.8%) is the most popular foreign carmaker above Mercedes (-7.6%), Audi (+79.3%), Lexus (+183.5%) and Porsche (+44.5%) all in outstanding shape. Toyota (+149.1%), Land Rover (+165.3%), Ford (+143.9%) and Cadillac (+225%) make waves below while GMC appears at #24.
The Hyundai Porter (+38.8%) reclaims the top spot it held over the Full Year 2022 off the Hyundai Grandeur (+118.6%) despite the latter being helped by an all-new generation. Thanks to a strong January result the Grandeur however retains the YTD top spot. Note the Porter lodges its highest monthly volume in two years (since March 2021) and 44% of its February volume or 4,872 units go to the EV variant. In third place we have the Kia Bongo (+44.1%) back up 9 spots on January and also boosted by very strong EV sales at 56% of its total or 5,025 units making it the best-selling EV in the country. EV sales are helped by the return of government subsidies in February. The next four models all post fantastic gains: the Hyundai Avante (+71.4%), Kia Carnival (+93.1%), Sportage (+50.5%) and Seltos (+56.9%) are all euphoric, the Seltos hitting its highest ranking in three years (since March 2020) at #7. Notice also the Hyundai Kona (+249.4%) propelled to #16 thanks to the new model.
Over in the foreign models charts. the BMW 5 Series (+27.9%) continues to dominate with very solid scores and a safe margin over is nemesis the Mercedes E-Class (-39.2%) still in deep trouble. The Mercedes S-Class (-25.7%) also struggles year-on-year but is up one spot on January to #3. The Audi A6 (+169.9%) is down two to #4 ahead of the Lexus ES (+159.2%) up four and the BMW X4 (+173.6%) stable at #6. In fact the rest of the Top 10 entirely beats the market by far: the Mercedes C Class is up 32700% (!), the BMW 6 Series up 100.3%, the Porsche Cayenne up 39.3% and the Jeep Cherokee up 1230.3%.
Previous month: South Korea January 2023: New Hyundai Grandeur tops the charts
One year ago: South Korea February 2022: Hyundai Porter and Kia Bongo on top, Hyundai Ioniq 5 up to #7
Full February 2023 Top 32 all brands, Top 52 all local models and Top 50 foreigners below.
