South Korea August 2023: Hyundai and Grandeur back in charge in stable market

The Hyundai Grandeur tightens its grip on the models charts.

New light vehicle sales in South Korea are stable in August at +0.7% year-on-year to 129,832. This includes 106,482 sales for local manufacturers (+1.3%) and 23,350 for foreigners (-2.1%). The year-to-date tally is now up 7.9% to 1,156,741 including 981,549 locals (+9.5%) and 175,177 foreigners (-0.6%). Note foreign carmakers hold 18% of the August market vs. 15.1% year-to-date. In the brands ranking, Hyundai (+17.1%) is back above sister brand Kia (+2%), cementing its YTD lead where it holds a 39,000-unit advantage over Kia. Genesis (-4.5%) stays in third place but underperforms slightly at 7.1% share vs. 7.7% so far this year. Mercedes (+10.9%) overtakes BMW (-13.7%) to rank #4. All other Top 10 members bar Volkswagen (+35.9%) endure steep falls, with Renault Korea (-62%) hit the hardest. Below, Porsche (+64.1%), Lexus (+165.5%) and Volvo (+105.7%) impress.

In the local models ranking, the Hyundai Grandeur (+91.5%) reclaims the top spot it holds year-to-date off the Hyundai Porter (-23.2%) down to #3 this month. The Kia Sorento (+26.5%) is helped to #2 by its facelift and now ranks #4 year-to-date. The Kia Sportage (+34.5%) is also in great shape at #4, distancing the Kia Carnival (+8.9%), Hyundai Avante (+97.8%) and Kia Ray (+55.2%) also beating the market. The Hyundai Casper (+15.2%) and Palisade (+14.8%) round out the Top 10 in solid fashion.

As for foreign models, below the BMW 5 Series (+2.2%), Mercedes places four models in the Top 5: the E Class (-27.5%) stays in 2nd place above the GLC (+66.1%), GLE (+97.3%) and S Class (-52.3%). The Audi A6 (-37.9%) follows ahead of the Lexus ES (+168.9%) and Mercedes C Clas (+3211.8%!). The BMW 3 Series (+26.5%) also beats the market at #10.

Previous month: South Korea July 2023: Kia overtakes Hyundai, places 6 models in Top 8

One year ago: South Korea August 2022: Ssangyong Torres inside Top 10, Hyundai Ioniq 6 lands, registrations up 0.5%

Full August 2023 Top 30 All brands, Top 56 All local models and Top 50 foreign models below.