Overview of the Korean market in 2015
- The Korean car market increased by 11.4% in 2015, reaching a volume of 1.83 million vehicles (PC + LCV). This market has thus set a new record, the previous having been reached in 2002 (1.6 million vehicles).
- By manufacturer, the Hyundai-Kia group (66.9% of the market, + 6.3%) remains by far the market leader in Korea,far ahead of GM Korea group (8.0% market share, 14.4%). Followed by Mahindra Ssangyong (5.5% market share, + 44.4%), Renault-Nissan groups (4.9% market share, + 12.5%) and foreign imports (13.3% of the market, + 24.2%). The leader, Hyundai-Kia has been losing ground in terms of market share, since its growth is twice less than that of the Korean market as a whole. The Mahindra-Ssangyong Group increased its market share thanks to the success of its new compact SUV, the Tivoli. Its growth was four times that of the Korean market as a whole. Imports of foreign brands grew twice as much as the Korean market as a whole. The Renault-Nissan group has seen its market share stagnate but the manufacturer has much hope for the new Samsung SM6 (a rebadged Renault Talisman ) which should increase its market share in 2016.
- The ten best selling models in the Korean market in 2015 are:The Hyundai Sonata (108 438 units), Hyundai Elantra (100 422), Hyundai Porter (99 743), Hyundai Santa Fe (92 928), Kia Picanto (88 455), Hyundai Grandeur (87 182), Kia Sorento (77 768) Kia Carnival (67 559), Chevrolet Spark (58 978) and Kia group K5 (58 619). The Hyundai-Kia group ranks nine models in the top 10. Korea is one of the few major markets where a VUL (Hyundai Porter) that is not a pick-up, is among the top 10.
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