The Korea Herald

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Passenger car sales drop amid less demand for sedan models: data

By KH디지털2

Published : Aug. 17, 2015 - 10:11

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Passenger car sales in South Korea fell during the first seven months of this year despite overall vehicle sales growth as most sedan models suffered marked setbacks, industry data showed Monday.

Five carmakers operating in South Korea sold a combined 714,015 vehicles, including sedans and recreational vehicles, during the January-July period, up 3.1 percent from a year earlier, according to the data.

The growth was driven mostly by more demand for RVs, including sport utility vehicles. In contrast, most sedan models saw their sales drop significantly, serving as a drag on the overall market.

Sales of Hyundai Motor Co.'s Sonata midsize sedan dropped 9.5 percent on-year to 58,694 units during the cited period, while the cumulative sales of Kia Motors Corp.'s Morning city car fell 7 percent to 49,987 units.

Hyundai Motor's Grandeur full-size sedan saw its January-July sales fall 8.3 percent, with its Avante sales also shrinking 3.2 percent over the same period, showing that most of major volume models of the two auto giants performed worse compared with a year earlier.

Other sedan models such as GM Korea Co.'s Spark, Cruze and Malibu posted 19 percent, 4.7 percent and 5.6 percent declines in cumulative sales during the first seven months of this year, the data showed.

Ssangyong Motor Co., the smallest carmaker in South Korea, also saw the sales of its only sedan model, the Chairman, drop 52.3 percent on-year to 719 units during the same period. Renault Samsung Motors Co.'s SM5 and SM7 were the only sedan models that reported increases in sales.

Meanwhile, the combined RV sales figures were not available but major models in the segment posted gains in demand, reflecting the rising popularity for outdoor activities-oriented vehicles.

Kia Motor's Sorento SUV sales jumped about 280 percent on-year to 45,198 units during the first seven months, while its Carnival sales grew 92.7 percent to 39,821 units, the data showed.

Sales of Renault Samsung Motors' QM3 and GM Korea's Trax crossover SUV also came to 12,549 and 6,178 units during the January-July period, up 37 percent and 6.9 percent from a year earlier. (Yonhap)