The new generation Santa Fe pushes the nameplate up to its highest ranking in 4.5 years.

The South Korean new car market edges down -1.3% year-on-year in January to 115,877. This is solely the fault of foreign manufacturers diving -19.4% to 13,083 whereas domestic brands are up 1.6% to 102,794. For the first time since last July, Kia (+15.5%) is the best-selling carmaker at home with a stunning 38.6% share compared with 32.5% over the Full Year 2023 and 31.6% in December. It topples traditional leader Hyundai (-12.3%) handicapped by the Asan plant, manufacturing the Grandeur, stopped operating this month. Genesis (+35.8%) surges ahead to eclipse the 10,000 monthly sales mark for the third month in a row. BMW (-28.9%) is the best-selling foreign brand again despite a ghastly loss. KG Mobility (-47.2%) fares even worse as EV subsidies were suspended at the start of the month, meaning the new Torres EVX failed to launch properly. GM Korea (+183.4%) improves on a particularly low year-ago basis with Lexus (+73.3%), Toyota (+196.6%), Mini (+94.6%), Lincoln (+383.1%) and Honda (+53%) also making themselves noticed.

In the domestic model ranking, the Kia Sorento (+101.3%) scores a third win in the past 4 months thanks to its facelift. It distances its competitor the Hyundai Santa Fe (+277.4%), up to #2 which is this generation’s best ranking and the nameplate’s highest position since September 2019 when it led the charts. The Carnival (+2.1%) and Sportage (+8%) make it three Kias in the Top 4. The Hyundai Tucson (+41.7%) is up 9 spots on December to #5 and the Genesis GV80 (+144.3%) is up three to #6 thanks to the new model. This is to be compared with #22 over the Full Year 2023. 

As far as foreign models are concerned, the BMW 5 Series (-47%) is #1 for the 2nd month running and for the 7th time in the past 10 months despite a ghastly fall. It archenemy the Mercedes E-Class (-31%) stays at #2 while the BMW X5 (+21.6%) is up 9 spots on last month to round out the podium. 5 of the next 7 models all score market defying gains, with the Mercedes GLE (+387.2%) the most dynamic followed by the Volvo XC60 (+124.6%), Mercedes GLC (+122.9%), BMW X7 (+33.4%) and Lexus ES (+16.8%).

Previous post: South Korea Full Year 2023: Hyundai Grandeur reclaims lead

One year ago: South Korea January 2023: New Hyundai Grandeur tops the charts

Full January 2024 Top 32 All brands, Top 51 domestic models and Top 50 foreign models below.

South Korea January 2024 – brands:

PosBrandJan-24%/23DecFY231Kia44,68338.6%+ 15.5%222Hyundai38,46133.2%– 12.3%113Genesis11,3499.8%+ 35.8%334BMW4,3303.7%– 28.9%545KG Mobility (ex Ssangyong)3,7623.2%– 47.2%666Mercedes2,9312.5%+ 1.1%457GM Korea2,8942.5%+ 183.4%778Renault Korea1,6451.4%– 22.3%989Lexus9980.9%+ 73.3%111210Volvo9650.8%– 4.2%81011Toyota7860.7%+ 196.6%151612Porsche6770.6%– 6.7%141313Mini5430.5%+ 94.6%161514Land Rover3400.3%– 28.4%191815Lincoln2850.2%+ 383.1%172216Ford2290.2%– 6.9%202017Jeep2130.2%– 12.7%181918Audi1790.2%– 92.7%12919Honda1770.2%+ 156.5%222420Chevrolet1550.1%– 56.9%231721Peugeot1010.1%+ 53.0%212122Cadillac570.0%– 24.0%242523Volkswagen530.0%– 73.0%101424GMC180.0%new292725Maserati160.0%+ 23.1%272826Bentley130.0%– 81.7%262627Rolls-Royce90.0%– 52.6%303028Lamborghini70.0%– 75.0%282929Tesla10.0%n/a131130DS00.0%– 100.0%313131Jaguar00.0%– 100.0% –3232Polestar00.0%new2523 –Total local manufacturers102,79488.7%+ 1.6% – – –Total foreign manufacturers13,08311.3%– 19.4% – – –Total market115,877100.0%– 1.3% – –

South Korea January 2024 – domestic models:

PosModelJan-24/22DecFY231Kia Sorento9,284+ 101.3%232Hyundai Santa Fe8,016+ 277.4%383Kia Carnival7,049+ 2.1%644Kia Sportage5,934+ 8.0%555Hyundai Tucson5,152+ 41.7%14126Genesis GV804,596+ 144.3%9227Hyundai Avante4,438– 27.2%868Hyundai Porter4,297– 34.8%429Kia Ray4,130+ 15.2%10910Kia Seltos3,944+ 17.2%131011Hyundai Grandeur3,635– 60.2%1112Genesis G803,494– 13.9%191313Kia K53,336+ 30.3%152014Kia Bongo3,074– 14.1%12715Hyundai Casper3,006– 2.1%111116Hyundai Staria2,996+ 1.5%161617Kia K82,917– 15.5%221518Chevrolet Trax Crossover2,246new242419Genesis GV702,232+ 94.3%182120Hyundai Kona1,976+ 131.4%201921Hyundai Palisade1,741– 55.6%211422KG Mobility Torres1,462– 73.1%251823Kia K31,419+ 49.4%262924KG Mobility Rexton Sports1,362+ 95.1%292825Kia Niro1,241– 2.2%272526Kia Morning1,214– 33.0%232327Renault Korea XM3974– 4.4%323328Genesis G90768– 18.6%283029KG Mobility Tivoli627– 0.8%353730Renault Korea QM6577– 34.2%313131Hyundai Sonata496– 80.5%71732Chevrolet Trailblazer461+ 7.2%363633Kia EV9449new173534Hyundai Venue323– 50.0%343435Kia Mohave291– 39.6%393836Genesis G70252– 20.5%384037KG Mobility Rexton180+ 29.5%424338Kia K9175– 59.4%404139Chevrolet Traverse119+ 48.8%475040KG Mobility Korando104– 52.1%444841Renault Korea SM694– 57.3%434442Hyundai Ioniq 539– 48.7%302743Chevrolet Colorado38– 64.5%484644Kia EV629n/a332645KG Mobility Torres EVX27new374546GMC Sierra14new505347Genesis GV607+ 0.0%464248Chevrolet Tahoe7– 46.2%515449Chevrolet Equinox5– 91.8%495150Hyundai Ioniq 64– 82.6%413251Hyundai Nexo2– 99.3%4539

South Korea January 2024 – foreign models:

PosModelJan-24/23DecJan-23FY231BMW 5 Series1,126– 47.0%12,12422Mercedes E Class652– 31.0%294513BMW X5585+ 21.6%12481124Lexus ES556+ 16.8%747665Mercedes GLE531+ 387.2%410976Volvo XC60402+ 124.6%10179107BMW X3389– 46.8%16731148BMW X7387+ 33.4%8290189Porsche Cayenne358– 8.7%243921510Mercedes GLC321+ 122.9%5144811BMW X4318– 49.9%206351312Mini Cooper Hatch261+ 94.8%271342013BMW X6256– 0.4%182571914Mercedes C Class244– 18.4%112991615Lexus NX241+ 270.8%19652216BMW 3 Series207– 59.8%26515917Mercedes S Class200– 74.7%3790418BMW i5190new15n/a19Mercedes A Class186+ 173.5%4368n/a20Toyota RAV4163+ 1153.8%32132521Toyota Camry158+ 1.3%n/a156n/a22Lincoln Nautilus157+ 15600.0%361n/a23Volvo S90155– 42.8%382712424Mercedes EQE153+ 135.4%14652325Mini Countryman139+ 52.7%41912726Toyota Prius137n/an/a0n/a27Mercedes GLS132+ 428.0%30253928Volvo XC90126– 39.4%472082929BMW 6 Series124– 68.2%373901130BMW X1123n/a1703831Range Rover121– 58.8%492943032Chevrolet Traverse119+ 48.8%n/a80n/a33Mini Clubman116+ 176.2%39423534Lexus RX116+ 3766.7%453n/a35Volvo S60113– 42.9%n/a198n/a36Volvo XC40110+ 323.1%28263637Porsche Macan107+ 87.7%n/a57n/a38Ford Ranger101+ 188.6%n/a35n/a39Mercedes GLB100+ 117.4%46463140Mercedes EQB93+ 126.8%23413741Lincoln Aviator92+ 268.0%n/a25n/a42BMW 7 Series87– 4.4%25912143Porsche 91185+ 37.1%n/a62n/a44Toyota Crown85newn/a0n/a45Ford Explorer82– 48.1%50158n/a46Jeep Grand Cherokee79– 16.0%3494n/a47Honda CR-V78+ 271.4%n/a21n/a48Toyota Sienna77– 7.2%n/a83n/a49Mercedes CLA74– 28.8%48104n/a50Land Rover Defender74+ 10.4%n/a67n/a

Source: Manufacturers