04 February 2011

Car Sales Korea: 2010


Local brand Korean sales are not that easy to get, and can have some variance as to how they are read. Statistics I have managed to put together, for the Korean market in total, indicate a modest 5.9% increase in 2010. Hyundai took a bad hit, with many models such as the Santa Fe, Genesis and Grandeur well down. Kia had a good year with the new K5, K7 and Sportage all hot. I’ve put together a list as best I can of passenger car sales for Korea. Korean brands – including GM Daewoo – make up 93% of the market. Before your jaw drops in disbelief, back in 2001 it was 99%. Therefore, imported brands are making slow but steady inroads into the market.

Korea doesn’t yet have the brand variance that most other markets have but that is slowly changing too. For example, Toyota only entered in 2009 and Subaru in 2010.

In the chart below, italicised figures at the end of each line indicates a drop in market share. Now for all the brands:

Rank-Brand-Sales-Share-Inc/Dec
1 Hyundai 482,000 36.8 -12.0
2 Kia 435,000 33.2 18.6
3 Samsung 155,700 11.9 16.5
4 GM Daewoo 113,300 8.7 8.5
5 Ssangyong 32,500 2.5 46.3
6 BMW 16,798 1.3 74.0
7 Mercedes 16,115 1.2 80.8
8 VW 10,154 0.8 56.0
9 Audi 7,920 0.6 18.8
10 Toyota 6,629 0.5 228.3
11 Honda 5,812 0.4 18.5
12 Ford 4,018 0.3 35.9
13 Lexus 3,857 0.3 -23.7
14 Nissan 3,524 0.3 76.4
15 Infiniti 3,118 0.2 21.4
16 Chrysler 2,638 0.2 -2.9
17 MINI 2,220 0.2 56.4
18 Peugeot 1,909 0.1 80.8
19 Volvo 1,638 0.1 -5.0
20 Land Rover 944 0.1 34.5
21 Cadillac 794 0.1 70.4
22 Jaguar 726 0.1 28.7
23 Porsche 705 0.1 75.4
24 Mitsubishi 546 0.0 13.0
25 Subaru 384 0.0 n/a
26 Bentley 86 0.0 -2.3
27 Rolls Royce 18 0.0 800.0
28 Maybach 9 0.0 125.0
Total Sales 1,310,000 5.9% increase.

Summary: This highly protected market is very gradually opening.

Source: Imported car figures from Kaida.

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