Sales of Seven Out of 10 Domestic Car Models Decline Last Year

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The sales of seven out of 10 domestic car models in Korea declined in 2016 despite the domestic car market growing 0.6 percent last year from a year earlier.

A few popular models led the market growth, but most other models suffered sharp declines in sales year-on-year.

According to data released by the five domestic carmakers, sales of only 18 car models out of 60 increased last year. Commercial vehicle models such as busses and trucks were excluded in the data. The sales of the remaining 42 models, or 70 percent, declined.

For Hyundai Motor, only the G80 and the EQ900 sedan enjoyed growth in sales last year at 10.3 percent and 310.9 percent, respectively. Some 11,148 Ioniq sedans – introduced last January – were sold. The carmaker’s remaining 15 car models saw sales decrease.

The Avante sedan, one of Hyundai Motor’s bestselling models, had a 6.6 percent decrease in sales while the Sonata sedan and the Santa Fe decreased by 24.2 percent and 17.2 percent, respectively. Introduced in September, the i30 hatchback also suffered a 25.9 percent decline in sales.

Hyundai Motor’s sister brand Kia Motors had a 1.4 percent increase in sales last year, but only four models out of 14 enjoyed sales growth.

Last year, sales of the Morning, K3, K5, K9 sedans and the Sportage SUV declined by 15.1 percent, 14.1 percent, 23.9 percent, 40.5 percent and 5.4 percent, respectively. Only, the K7 sedan and the Mohave SUV led Kia Motors’ sales growth last year, marking a 169.5 percent and 73.6 percent increase respectively.

201702e_%ed%8e%98%ec%9d%b4%ec%a7%80_53_03GM and Renault Samsung also showed their dependence on a few popular models in sales. GM Korea, the U.S.-based carmaker’s local sales unit, had its best performance in sales last year since it started business operations in 2002, but the glory was led by a few models.

The Malibu, Spark, Impala, Trax and Camaro had a 123.8 percent, 32.3 percent, 64.1 percent, 9.9 percent and 1,287.5 percent increase in sales, respectively. The remaining seven models in the carmaker’s lineup, however, suffered declines.

Renault Samsung also had excellent sales last year, but the growth was led only by two popular models – the SM6 sedan and the QM6 SUV. Some 57,478 SM6s were sold along with 14,126 QM6 SUVs, but the remaining models suffered a sharp decline.

korean-electronics.com | Blog Magazine of korean electronics, brands and Goods

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