Last year’s domestic sales of five domestic automakers were found to be the lowest in 16 years due to slowing demand due to high interest rates.
Sorento became the first best-selling car for Kia and a recreational vehicle (RV). According to the results of compiling the performance of five domestic automobile companies, including Hyundai Motors, Kia, GM Korea, Renault Korea Motors, and KG Mobility (KGM), on the 3rd, last year, these companies sold a total of 794 vehicles, including 1,358,842 domestically and 6,588,328 overseas. A total of 7,170 units were sold.
Completed cars are waiting in a yard near the export shipping dock of Hyundai Motor Company’s Ulsan plant. News 1
Last year’s sales decreased by 0.6% from the previous year’s 7,992,716 units (domestic sales: 1,452,051 units, exports: 6,540,665 units).
Among these, domestic sales decreased by 6.4% compared to the previous year, recording the lowest figure since 1.145 million units in 2008 during the financial crisis. In addition to the domestic slump, a slowdown in demand due to high interest rates and the electric vehicle chasm (temporary stagnation in demand) is cited as the cause.
Looking at each company, sales of Kia (0.1%), GM Korea (6.7%), and Renault Korea (2.6%) increased compared to the previous year, but sales of Hyundai Motors (-1.8%) and KG Mobility (KGM, -5.7%) decreased. .
In particular, four companies, including Hyundai Motors (-7.5%), Kia (-4.2%), GM Korea (-35.9%), and KGM (-25.7%), showed negative results compared to the previous year in terms of domestic sales.
Last year, the most popular car in the domestic market was Kia Sorento (94,538 units). This was followed by Kia Carnival (82,748 units), Hyundai Motor Company’s Santa Fe (77,161 units), and Kia Sportage (74,255 units), with RV ranked 1st to 4th. Last year was the first time that an RV was listed as a best-selling car.
Reporter Kim Geon-ho scoop3126@segye.com
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Source: www.segye.com
