South Korea June 2023: Hyundai Grandeur leads, Kia EV9 lands
The Kia EV9 has landed in the South Korean charts.
New light vehicle sales in South Korea advance 11.7% year-on-year in June to 160,695, lifted by foreign manufacturers (+17.9%) as local carmakers are up 10.6%. This month’s result was boosted by consumers taking advantage of the last month of tax cuts. Year-to-date, the market is up 11.4% to 890,953 including 760,249 locals (+13.7%) and 130,704 foreigners (-0.2%). Hyundai (+13.4%) lodges a 7th consecutive monthly win at 35.1% share vs. 36.8% year-to-date, it is followed by sister brand Kia (+13.4%) also below its YTD level at 31.8% vs. 32.9%. Genesis (+23.5%) delivers its highest monthly volume of the year while BMW (+25.6%) overtakes Mercedes (+36.9%) to 4th place overall. Lexus (+125.5%), Porsche (+65.8%) and Land Rover (+178.6%) stand out below.
In the local models charts, the Hyundai Grandeur (+45.6%) scores a 4th consecutive monthly win, with the hybrid variants accounting for 65% of its sales for the month. The Hyundai Porter (+18.2%) ranks 2nd as it does year-to-date, with EV variants amounting to 30% of its volume, making it by far the most successful EV in Korea. The Kia Sorento (+24.8%), Sportage (+42.2%) and Carnival (+13.7%) round out the Top 5, all beating the market. It is also the case for the facelifted Hyundai Avante (+60.7%), the Kia Seltos (+60.2%) and Genesis G80 (+30%). The Hyundai Tucson (+55.1%) closes the Top 10 in spectacular fashion. The Chevrolet Trax Crossover (#16) is by far the most popular recent launch (<12 months) as we welcome the new Kia EV9 at #30, positioning itself just below the EV6 (#29).
Among foreign models, the BMW 5 Series (+204.2%) triples its sales year-on-year to cement its newfound pole position, leaving the Mercedes E Class (+26.2%) in the dust. The Mercedes S Class (+45.6%) stays at #3 above a reinvigorated Tesla Model X (not Model Y). The Lexus ES (+152.3%) rounds out the Top 5 ahead of the Mercedes GLE (-0.6%), BMW 6 Series (+258.5%) and 3 Series (-12.7%). The Tesla Model Y (-46%) is up 8 spots on May to #10 but tumbles down year-on-year. Notice also the new Mercedes EQE up 15 ranks on last month to #14 and the Toyota Crown making its first inroad into the Top 50 at #31.
Previous month: South Korea May 2023: Hyundai Grandeur, Kia Seltos impress
One year ago: South Korea June 2022: Samsung QM6 up to #10, Ssangyong Torres arrives, market off -10.6%
Full June 2023 Top 32 All brands, Top 55 All local models and Top 50 foreigners below.
