The October sales results of Hyundai Motor and Kia diverged. While Hyundai Motor saw its total sales volume decline due to sluggish domestic demand for sport utility vehicles and Genesis, as well as a drop in overseas sales, Kia maintained an eight-month consecutive growth streak with increases in both domestic and international sales.
The three mid-sized automakers also showed contrasting fortunes: GM Korea grew on the back of increased exports, while Renault Korea and KG Mobility (KGM) saw simultaneous declines in both domestic and export sales.
Hyundai Motor announced on the 2nd that it sold a total of 329,773 units last month, comprising 49,042 domestically and 287,310 overseas. Domestic sales fell by 8.9% and overseas sales by 5.9% year-on-year, resulting in a 6.3% decrease in total sales volume.
The sluggishness of key SUV models was prominent in the domestic market. The Tucson sold 1,590 units, down 59.3% from the same period last year, while the Santa Fe sold 2,469 units, a 49.2% decrease.
These two models alone accounted for a drop of 4,711 units, nearly matching the total domestic sales decline of 4,780 units. The Palisade also fell by 13.2% to 3,322 units, causing overall RV sales to drop by 21.7% to 15,673 units.
The premium brand Genesis also declined by 34.4% year-on-year to 5,942 units. The G80 fell by 29% to 2,124 units, the GV70 by 41.8% to 1,463 units, and the GV80 by 36.4% to 1,814 units. In contrast, sedan sales rose by 7.3% to 17,228 units, driven by the Grandeur, which saw a 37.7% increase to 6,989 units sold.
The increase in eco-friendly vehicle sales could not prevent the overall decline in domestic demand. Hyundai Motor's domestic HYBE Lead sales reached 15,207 units, up 3.9% year-on-year, while electric vehicles rose by 48.9% to 6,779 units. Total sales of electrified vehicles, including hydrogen fuel cell vehicles, increased by 12.2% to 22,263 units.
In contrast, Kia achieved simultaneous growth in both domestic and overseas markets. Last month, it sold a total of 291,219 units, comprising 51,007 domestically, 239,308 overseas, and 904 special-purpose vehicles. Total sales volume increased by 10.3% year-on-year. Domestic sales rose by 27.5%, while overseas sales grew by 7.2%. Kia's domestic sales volume was 1,965 units higher than that of Hyundai Motor.
The Sportage led growth with total sales of 56,811 units, including 7,708 domestically and 49,103 overseas. In the global market, the Seltos followed with 38,368 units, and the Sorento with 20,021 units. Domestically, sales included 6,784 Sorentos, 5,570 Carnivals, and 4,816 Seltos.
A Kia official said, "We are sustaining a year-on-year sales growth streak for eight consecutive months through sales strategies tailored to regional demand. In the remaining fourth quarter, we will continue our sales growth momentum centered on electrified vehicles, such as HYBE Lead in the U.S. and electric vehicles in Europe."
Among the three mid-sized automakers, GM Korea grew by leading with exports. It sold a total of 50,189 units, comprising 799 domestically and 49,390 exported, representing a 26.6% increase year-on-year. While domestic sales fell by 33.1%, exports rose by 28.5%. Overseas sales of the Tracker Crossover and Trailblazer increased by 25.7% and 33.2%, respectively.
Renault Korea sold a total of 5,503 units, comprising 2,703 domestically and 2,800 exported, marking a 23.6% decrease year-on-year. Domestic sales fell by 29.1%, while exports dropped by 17.4%. Domestically, the Arcana surged by 140.5% to 1,075 units, but the Grand Koleos declined by 63.7% to 1,066 units. Exports of the Polestar 4 reached 1,815 units.
KGM sold a total of 6,537 units, including completely knocked down (CKD) products, representing a 31.3% decrease year-on-year. Domestic sales fell by 42.4% to 2,037 units, while exports dropped by 24.7% to 4,500 units.
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