The Korean market (PC+LCV) grew by 1.1% in 2018
- The Korean automotive market (PC+LCV) grew by 1.1% in 2018, to 1,813,051 units (compared to 1,793,256 units in 2017), one of the three best figures of the decade for this market. However, with the slowdown in global growth, the sales volume expected in 2019 is likely to be lower.
- In 2018, the Korean market consisted of 44.5% sedans and 38.5% SUVs, confirming the decline in the influence of sedans and the strong and growing demand for SUVs, as elsewhere in the world.
- Last year, the Hyundai-Kia group launched two successful B-segment SUVs, the Hyundai Kona and Kia Stonic, which are both locally and globally successful. At the end of the year, Hyundai launched the top-of-the-range Palisade SUV, which is mainly intended for the North American market. Imports of foreign vehicles now represent 17% of the Korean market (compared to 14.4% in 2017), whereas in the past it was one of the most reluctant markets for imports. Daimler and BMW are the two largest importers in Korea.
- The Hyundai-Kia group remains by far the market leader in Korea, with a market share of 55.9%, ahead of Mahindra (Ssangyong; 6.0%), Renault-Nissan (Samsung; 5.4%), GM Korea (ex-Daewoo; 4.1%), Daimler (3.9%) and BMW (3.3%). GM Korea has collapsed, losing half its market share in one year, which raises questions about its future.
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