Korean Automotive (PC+ LCV) Market in 2016
- The Korean car market (PC + LCV) remained stable in 2016 (-0.4%). This market remains slightly above 1,800,000 units (1,825,000 units compared to 1,833,000 units in 2015), for the second time in its history. However, it is expected to resume growth again in 2017. Most major manufacturers saw their sales increase in 2016 (excluding Hyundai-Kia, the market leader, and Volkswagen, for reasons related to the case of rigged motors). The Hyundai-Kia group remains by far the leader of the Korean market (1.19 million units, -4%): it still holds more than 65%. Renault-Nissan (120,000 units, + 35%), Mahindra-Ssangyong (104,000 units, + 4%), BMW (57,000 units, + 3%), Daimler (56,000 units, + 20%), Volkswagen (33,000 units, -54 per cent), Toyota (20,000 units, + 26 per cent), Tata (11,000 units, + 8 %).
- Imports accounted for 12% of total sales in 2016, one point less than in 2015 (due to lower Volkswagen sales) but six points more than in 2010 and eight points more than in 2007.
- The best-selling vehicle in 2016 remains the Porter light commercial vehicle (97,000 units), ahead of the Elantra (94,000 units) and Sonata (82,000 units) sedans. Next are the Kia Sorento (80,000 units) and Hyundai Santa Fe (78,000 units ) SUVs, followed by the Chevrolet Spark (77,000 units) and Kia Picanto (75,000 units ) small city cars.
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