South Korea 2022. Vehicle Market Closes With 2.4% y/y Loss


South Korean Vehicles Market totals 1.67 million sales (-2.4%). In December sales grew for the 5th month in a row, with 160,726 new registrations (+5.2%).

Market Trend and Outlook

The South Korean vehicles market in 2022 totals 1.67 million sales, a 2.4% decrease in sales compared to the prior year. Despite the overall downtrend, in December sales grew for the 5th month in a row, posting 160,726 new registrations (+5.2%).

Looking at cumulative data from 2022 brand-wise, the Top 5 remain unchanged from the previous year: Hyundai in 1st with 553,839 sales (-6.3%), Kia in 2nd with 541,068 (+1.1%), Genesis in 3rd with 135,045 registrations (-2.7%) followed by Mercedes with 80,976 (+6.3%) and BMW in 5th with 78,545 (+19.6%).

SsangYong ranks in 6th with 68,657 new registrations (+21.8%), in front of Renault Samsung at 52,621 sales (-13.9%) and GM Korea with 37,237 registrations (-31.4%).

Audi remains in 9th with 21,402 sales (-16.4%) in front of Volkswagen closing the Top 10 with 15,791 (+9.9%).

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

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