South Korea April 2024: Kia Sorento and Sportage top negative market

The Kia Sportage ranks #2 at home in April.

The South Korean new car market recedes -5.9% year-on-year in April to 140,664 units. If foreign carmakers manage a +3.1% uptick to 21,560 sales, domestic ones drop -7.4% to 113,104. The year-to-date situation is even more dire with sales off -10.5% to 517,707 including 441,564 local manufacturers (-11%) and 76,143 foreigners (-7.8%). Hyundai (-4.6%) repeats at #1 above sister brand Kia (-3.4%) but remains in 2nd place year-to-date with Kia holding a 7,356-unit advantage after four months. Genesis (-3.3%) is above the 10,000 monthly sales mark for the 6th consecutive month. Mercedes (+8.2%) is the only Top 10 brand in positive and is up three spots on March to #4. Tesla ranks #9 with 1.2% share, while Audi (+62.8%) and Toyota (+40%) impress below.

Looking at domestic models, Kia dominates with the Sorento (+15.1%) and Sportage (+14.3%) in the lead. Note 65.7% of Sorento sales and 42.5% of Sportage registrations are for the hybrid variant. The Hyundai Grandeur (-29.1%) falls heavily year-on-year but climbs back up three spots on March and YTD to #3. The Carnival (+6.1%) makes it three Kias in the Top 4. The Hyundai Santa Fe (+110.8%) is down three ranks on last month to #6, with the Hyundai Staria (+42.2%) and Kia Seltos (+22%) also posting solid scores below. The recent launches are unimpressive: the KG Mobility Torres EVX is down 8 spots on March to #32 and the Kia EV9 is stuck at #41.

We have a very volatile foreign models ranking once again with the triumphant nameplate last month, the Tesla Model Y, falling to outside the Top 50 in April. Instead, the Mercedes E Class (+63%) takes the lead and the Tesla Model 3 (+7700%) surges to #2 with an extravagant year-on-year lift. The BMW 5 Series (-2.7%) drops one spot on March to #3 but is now #1 year-to-date, toppling the Tesla Model Y. The Mercedes C Class (+135.1%) also delivers a fantastic performance at #4 and rans #5 year-to-date vs. #16 over the Full Year 2023. All other Top 10 models are in decline except the BMW 7 Series (+91.6%) at #10.

Previous month: South Korea March 2024: Kia Sorento signs 6th win in past 7 months, Tesla Model Y triumphs

One year ago: South Korea April 2023: Hyundai Grandeur and Kona surge up, registrations up 4.8%

Full April 2024 Top 30 All brands, Top 50 All domestic models and Top 50 foreign models below.