The Korea Herald

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Korean minivan market dominated by local carmakers

By Korea Herald

Published : July 14, 2014 - 20:59

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South Korea’s robust minivan market is dominated by local carmakers, with foreign brands effectively shut out by local consumers, industry data showed Monday.

Sales figures released by carmakers showed sales of minivans or multipurpose vehicles hitting 5,255 units in June, up 23 percent from a year earlier, thanks in part to growing interest in camping and outdoor activities.

Of the total, vehicles made by Kia Motors Corp. and Ssangyong Motor Co. enjoyed 97.7 percent market share, while cars made by Toyota Motor Co., Honda Motor Co., Chrysler and Citroen accounted for the rest with 2.3 percent of all sales.

Kia, which last month unveiled its brand-new Carnival MPV, said it sold 4,272 units of the vehicle last month, a surge of 36 percent on-year, with more than 17,000 orders waiting to be filled. (Yonhap)