South Korea 2017. Mercedes & BMW shining in a market down 1%

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Korean Autos Market in the 2017 slipped 1.7%, due to a slow first half, scoring the third performance all-time. Propelled by booming economy, the 2018 outlook is positive. Importers share at 13.1%, with Mercedes & BMW fight for leadership.

South Korean economic performance was exceptional in Q3. Growth came in at 3.8% compared to the same quarter last year—the fastest pace in nearly four years and higher than the 2.7% growth recorded for Q2. Data for November suggests strong growth for Q4: Consumer confidence hit a seven-year high, with consumers particularly confident about domestic economic conditions, and growth in exports gathered pace. On 5 December, parliament approved the government’s budget for the 2018 fiscal year, which includes a 4.6% increase in spending compared to the previous year.

South Korean vehicles market has been closed to foreign vehicles import until the recent (2012) FTA with EU. The entrance of many new competitors fueled the market growth in these years and the all time record sales had been established in three years in a row, with 2016 above 1.8 million units. According to data released by KAMA and KAIDA, in the 2017 the market was penalized by a slow start of the year and the second half recovery was not enough to break a new record again, with light vehicles sales ended at 1.814.399 units, down 1.1%, the third best performance ever. 2018 Outlook is quit positive and market is projected at the new record.

Sales 2012Sales 2013Sales 2014Sales 2015Sales 2016Sales 2017Sales 2018 e
Car+LCV1.532.0141.531.5721.613.3231.824.2881.834.7841.814.3991.912.748

2012 Var2013 Var2014 Var2015 Var2016 Var2017 Var2018 var e
Car+LCV5,5%0,0%5,3%13,1%0,6%-1,1%5,4%

Brand-wise, Hyundai holds 36.7% of market share, selling 666.639 units (+1.8%). Kia is following with 521.550 units (-2.5%) and 28.7% of market share.

In third place GM Korea (Chevrolet in the table) with 132.377 units (-27.3%) followed by SsangYong with 106.677 units (+3.0%),  Renault Samsung with 100.536 (-9.5%), Mercedes with 68.661 sales (+21.9%) and BMW with 59.624 (+21.9%).

At model-wise, the leader is the Hyundai Grandeur with 132.080 sales (+92.2%) followed by the Hyundai Avante with 83.861 (-10.2%) and the Hyundai Sonata with 82.703 (+0.6%).

Top 100 models ranking updates are available here.

Research, Consulting, Data & Forecast

F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2022. AutoData in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end.  See details within South Korea Corner Store.

Rank 2017Ran DecBrandSales 2017Sales DecVariation 2017Variation DecShare 2017Share Dec
11Hyundai666.63947.8411,8%-32,7%37,4%31,3%
22Kia521.55046.502-2,5%-6,2%29,2%30,4%
33Chevrolet132.37711.852-27,3%-35,3%7,4%7,8%
44SsangYong106.67710.6473,0%-0,5%6,0%7,0%
55Renault Samsung100.5369.953-9,5%-29,3%5,6%6,5%
68Mercedes68.6613.95921,9%-29,6%3,8%2,6%
76BMW59.6246.80723,0%16,7%3,3%4,5%
87Genesis23.7045.5201,6%424,7%1,3%3,6%
910Lexus12.6031.30919,0%-8,1%0,7%0,9%
1012Toyota11.6981.03826,3%6,9%0,7%0,7%
119Land Rover10.7701.4531,6%51,0%0,6%1,0%
1213Ford10.72788711,8%-2,4%0,6%0,6%
1315Honda10.29956655,2%17,4%0,6%0,4%
1411Mini9.5621.18610,8%96,4%0,5%0,8%
1514Chrysler7.284760740,1%256,8%0,4%0,5%
1622Volvo6.60418726,9%-59,9%0,4%0,1%
1716Nissan6.2854589,6%-13,1%0,4%0,3%
1818Jaguar4.1254048,6%-20,2%0,2%0,3%
1917Peugeot3.6974062,1%89,7%0,2%0,3%
2019Porsche2.789349-12,5%245,5%0,2%0,2%
2121Infiniti2.697243-15,7%53,8%0,2%0,2%
2220Cadillac2.008281152,9%114,5%0,1%0,2%
2323Citroen1.1747234,0%-57,9%0,1%0,0%
24Fiat98048,9%-100,0%0,1%0,0%
2525Audi96210-94,2%-95,8%0,1%0,0%
2624Bentley2594452,4%4300,0%0,0%0,0%
2726Rolls-Royce86762,3%40,0%0,0%0,0%
28Lamborghini2210,0%-100,0%0,0%0,0%

Rank 2017Ran DecGroupSales 2017Sales DecVariation 2017Variation DecShare 2017Share Dec
11Volkswagen Group31.784101-5,9%573,3%24,2%44,3%
26Renault Nissan Alliance22.9789-10,2%50,0%17,5%3,9%
33Hyundai-Kia19.04921-14,0%133,3%14,5%9,2%
44Toyota M.C.13.12715-18,6%-93,9%10,0%6,6%
52Ford M.C.12.24332-16,2%128,6%9,3%14,0%
66P.S.A.11.7449-12,5%-85,7%8,9%3,9%
75BMW5.27613-16,1%160,0%4,0%5,7%
89Mercedes Benz4.838427,6%33,3%3,7%1,8%
99Mazda2.6784-11,1%0,0%2,0%1,8%
108Tata1.87458,7%400,0%1,4%2,2%
Rank 2017Rank DecModelSales 2017Sales DecVariation 2017Variation Dec
11Hyundai Grandeur132.0809.08092,2%-47,4%
22HYUNDAI AVANTE83.8616.848-10,6%-12,2%
34Hyundai Sonata82.7036.3190,6%-12,9%
43Kia Sorento78.4586.750-2,8%-7,4%
55Kia Morning70.4375.781-6,3%-29,6%
66Kia Carnival68.3865.0393,7%-12,8%
77Ssangyong Tivoli55.2804.885-2,9%-13,0%
810Hyundai Santa fe51.6614.142-32,8%-51,4%
98Chevrolet Spark47.2444.618-39,4%-33,8%
1013Kia K746.5783.666-16,9%-29,0%
1112Hyundai Tucson46.4163.888-11,3%-29,6%
129Kia Sportage42.2324.480-15,3%17,8%
1315Genesis G8039.7623.092
1418Samsung SM639.3893.033-31,5%-53,9%
1514Kia K538.1843.357-14,5%-1,0%
1620Chevrolet Malibu33.3252.652-9,1%-36,2%
1725Mercedes E Class31.5662.12071,1%253,3%
1823Kia K328.1652.344-23,6%-33,8%
1917Samsung QM627.8373.04997,1%-15,1%
2019Kia Niro23.6472.92626,4%79,6%
2121Hyundai Kona23.5222.618
2222SsangYong Korando Sports22.9122.353-12,4%-13,1%
2316Kia Ray20.5213.0683,9%121,8%
2411BMW 5 Series19.5954.08740,7%178,6%
2528Chevrolet Trax16.5491.54818,3%-40,5%
2624SsangYong G4 Rexton16.3812.233
2734Kia Mohave15.2059851,0%-45,4%
2838Genesis EQ90012.300809-47,3%-23,1%
2930Samsung QM312.2281.211-20,0%-39,3%
3029BMW 3 Series11.0911.2407,4%-23,9%