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South Korea May 2023: Hyundai Grandeur (+52.3%), Kia Seltos (+67.4%) impress

The Hyundai Grandeur is the best-selling model at home again.

151,728 new light vehicles hit South Korean roads in May, a 5.9% year-on-year improvement. This includes 130,389 local manufacturers (+8.8%) and 21,339 foreigners (-9.2%). Year-to-date, the market is up 11.3% to 730,258 including 626,310 locals (+14.3%) and 103,948 foreigners (-4%). Hyundai (+10%) easily holds onto the top spot with 37.1% share above sister brand Kia (+10.3%) with Genesis up 1.6% to over 12,000 units for the third month in a row. Mercedes (-14.8%) remains in a solid 4th place vs. #6 so far this year, distancing BMW (-5.7%). KG Mobility (ex Ssangyong) beats the market at +12.5% but it’s GM Korea (+71.9%) that posts the most impressive year-on-year gain in the Top 10. Renault Korea (-52.3%) is in freefall and with no new model to be released in 2023 the sales slump will continue. Volvo (+48%) and Porsche (+43.2%) round out the Top 10 in spectacular fashion.

In the local models ranking, the Hyundai Grandeur (+52.3%) is the overall best-seller for the third month in a row and the 4th time this year, cementing its YTD dominance. The Hyundai Porter (-2.9%) is in difficulty but stays #2, a ranking it also holds year-to-date. The next four models all beat the market by a significant margin with double-digit upticks. The Kia Sportage (+36.2%) fares best, followed by the Hyundai Avante (+34.2%), Kia Carnival (+22.1%) and Kia Sorento (+21.3%). Notice also the Kia Seltos up 67.4% at #9. Looking at foreign models, the BMW 5 Series (-0.2%) stays on top above no less than 4 Mercedes: the E-Class (-58.4%) in freefall, the S Class (-11%), GLC (+237.6%) and GLE (+6.3%). The VW Tiguan (+52.7%) surges ahead, as do the Lexus ES (+83.2%), BMW 6 Series (+55.4%) and Porsche Cayenne (+157.7%) in the remainder of the Top 10.

Previous month: South Korea April 2023: Hyundai Grandeur and Kona surge up, registrations up 4.8%

One year ago: South Korea May 2022: Hyundai Casper breaks records in market edging down -3.3%

Full May 2023 Top 32 All brands, Top 52 All local models and Top 50 foreign models below.

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