The Tesla Model Y obliterates its rivals in the foreign model ranking.

New light vehicle sales in South Korea sink -11.6% year-on-year in March to 145,658 units, including 120,395 sales (-14.6%) for local manufacturers and 25,263 (+6%) for foreigners. The year-to-date tally is now down -12.1% to 377.043 including 322,460 (-12.2%) for domestic brands and 54,584 (-11.5%) for foreign manufacturers. Hyundai (-18%) snaps its first win of the year despite a steep year-on-year fall. Kia (-7.6%) drops to 2nd place for the month but remains #1 year-to-date. Genesis (-7%) scores its fifth consecutive month over 10,000 sales in third place. BMW (+15.6%) tops foreign manufacturers above Tesla jumping from #19 in February to a fantastic 6th place this month. Volkswagen (+110%), GM Korea (+20%) and Mini (+15.9%) are also strong below.

Model-wise, the Kia Sorento (+30.2%) signs a 6th win in the past 7 months and has its hybrid variant to thank for its success: at 6,473 sales it accounts for 72.1% of its volume for the month. The Hyundai Porter (-21.9%) climbs back up to #2 despite falling heavily year-on-year while the Hyundai Santa Fe (+164.8%) stays in third place and ranks #2 year-to-date. The Kia Carnival (+11.2%) is down to #4 ahead of the Kia Sportage (+11.9%). #1 a year ago, the Hyundai Grandeur (-44.1%) is down to #6, distancing the Genesis G80 (+13.4%) up above 5,000 monthly sales for the first time since January 2022, Kia Seltos (+22%) and Ray (+12.9%) all in great shape.

Looking at foreign models, the Tesla Model Y (+484.1%) triumphs with almost 6,000 sales, which would place it #7 when including domestic models. It sells 2.6 times the #2, the BMW 5 Series (+48.8%) also outstanding. The Lexus ES (-18%) and Mercedes GLC (-3%) follow while the Mercedes C Class (+41.5%) and BMW X5 (+5.1%) both manage a positive result.

Previous month: South Korea February 2024: Market down, Kia and Sorento repeat at #1, Genesis GV80 breaks record

One year ago: South Korea March 2023: Hyundai Grandeur (+63.8%) returns to #1, sales up 21.2%

Full March 2024 Top 30 All brands, Top 51 All domestic models and Top 50 foreign models below.

South Korea March 2024 – brands:

PosBrandMar-24%/23Feb2024%/23PosFY231Hyundai50,66534.8%– 18.0%2126,19733.5%– 21.6%212Kia49,11233.7%– 7.6%1137,87136.6%– 2.9%123Genesis11,8398.1%– 7.0%333,7709.0%+ 9.7%334BMW6,5494.5%+ 15.6%416,9684.5%– 6.4%445Tesla6,0254.1%n/a196,2001.6%n/a8116KG Mobility (ex Ssangyong)4,7023.2%– 47.2%512,2123.2%– 46.5%567Mercedes4,1972.9%– 35.8%610,7202.8%– 28.3%658Renault Korea2,0391.4%– 22.6%85,4911.5%– 21.2%989GM Korea2,0381.4%+ 20.0%76,9191.8%+ 80.3%7710Lexus1,2180.8%– 11.5%103,1350.8%– 4.9%101211Volvo1,0810.7%– 49.9%93,0070.8%– 24.6%111012Volkswagen9490.7%+ 110.0%141,4640.4%+ 25.7%151413Mini9110.6%+ 15.9%122,2090.6%+ 33.7%141514Porsche7810.5%– 30.1%112,2860.6%– 22.9%121315Toyota7590.5%– 3.3%132,2810.6%+ 30.7%131616Audi6530.4%– 71.1%171,1000.3%– 84.1%16917Ford3590.2%– 35.0%158940.2%– 27.7%182018Land Rover3380.2%– 46.6%169530.3%– 40.9%171819Honda3210.2%+ 352.1%226090.2%+ 102.3%212420Jeep2940.2%+ 7.3%206740.2%– 39.7%201921Lincoln2300.2%+ 82.5%187390.2%+ 136.9%192222Polestar2190.2%+ 226.9%302220.1%+ 100.0%242323Chevrolet1170.1%– 79.3%214080.1%– 65.4%221724Peugeot940.1%– 43.4%233010.1%– 1.6%232125Cadillac530.0%– 39.8%241730.0%– 24.1%252526GMC330.0%– 52.9%25710.0%– 46.6%262727Lamborghini310.0%+ 287.5%29420.0%– 22.2%282928Maserati220.0%+ 4.8%26540.0%– 1.8%272829Rolls-Royce150.0%– 34.8%28350.0%– 35.2%303030Bentley140.0%– 60.0%27380.0%– 77.2%2926 –Total local manufacturers120,39582.7%– 14.6% –322,46085.5%– 12.2% – – –Total foreign manufacturers25,26317.3%+ 6.0% –54,58314.5%– 11.5% – – –Total market145,658100.0%– 11.6% –377,043100.0%– 12.1% – –

South Korea March 2024 – models by local manufacturers:

PosModelMar-24/22Feb2024/23PosFY231Kia Sorento8,974+ 30.2%126,929+ 65.8%132Hyundai Porter8,032– 21.9%518,684– 33.2%523Hyundai Santa Fe7,884+ 164.8%323,313+ 196.0%284Kia Carnival7,643+ 11.2%222,681+ 14.5%345Kia Sportage6,736+ 11.9%419,661+ 14.3%456Hyundai Grandeur6,100– 44.1%913,698– 54.1%617Genesis G805,298+ 13.4%1012,048– 7.4%10138Kia Seltos4,748+ 22.0%812,659– 1.2%9109Kia Ray4,692+ 12.9%712,794+ 6.5%8910Kia Bongo4,584– 32.6%1210,735– 44.6%13711Genesis GV804,304+ 54.5%613,552+ 113.8%72212Hyundai Avante4,188– 36.7%1710,918– 42.7%12613Hyundai Sonata4,078+ 84.1%235,997– 14.3%201714Kia K53,577+ 4.6%149,883+ 14.5%142015Hyundai Tucson3,524– 16.8%1311,746+ 2.7%111216Hyundai Casper3,442+ 6.0%119,566+ 0.9%151117Hyundai Staria3,123– 21.5%158,997– 13.0%161618Hyundai Kona2,747– 42.8%216,178– 30.4%181919Kia K82,016– 55.9%187,098– 41.8%171520Hyundai Palisade1,974– 59.0%166,080– 50.5%191421Hyundai Ioniq 51,857+ 9.2%382,120– 42.5%302722Chevrolet Trax Crossover1,485new225,178new222423Kia K31,460+ 22.0%244,194+ 32.3%242924KG Mobility Torres EVX1,443new321,870new324525Kia Morning1,416– 33.4%253,770– 37.1%252326KG Mobility Torres1,366– 79.3%204,368– 74.1%231827Kia EV61,275– 57.6%411,459– 70.6%342628Genesis GV701,243– 58.2%195,280– 19.9%212129Kia Niro1,137– 57.6%273,318– 43.1%272530Renault Korea XM31,058+ 9.8%282,937– 0.8%283331KG Mobility Rexton Sports1,015– 32.2%263,371– 3.3%262832Hyundai Ioniq 6936– 57.5%451,038– 73.1%363233Renault Korea QM6860– 39.0%292,240– 30.5%293134Genesis G90715– 36.2%302,088– 28.0%313035KG Mobility Tivoli585+ 55.6%311,763+ 30.8%333736Chevrolet Trailblazer416– 32.9%331,244– 13.0%353637Kia Mohave298– 58.0%37830– 51.1%383838Hyundai Venue283– 46.2%35929– 44.2%373439Hyundai Nexo268– 61.4%34601– 68.1%413940Genesis G70211– 54.7%36717– 28.5%404041Kia EV9183new42756new393542KG Mobility Rexton175– 39.4%40530– 23.3%424343Kia K9140– 67.6%39506– 56.5%434144Renault Korea SM6121– 54.0%44314– 56.6%454445KG Mobility Korando118– 19.7%46310– 30.0%464846Chevrolet Traverse78– 27.8%43314+ 15.0%445047Genesis GV6068– 90.5%4985– 90.9%474248GMC Sierra35– 44.4%4773– 42.1%485349Chevrolet Colorado17– 90.4%4866– 82.8%494650Chevrolet Tahoe5– 79.2%5019– 66.7%505451Chevrolet Equinox2– 97.1%5112– 93.5%5151

South Korea March 2024 – models by foreign manufacturers:

PosModelMar-24/23Feb2024/23PosFY231Tesla Model Y5,934+ 484.1%n/a6,012+ 475.9%132BMW 5 Series2,262+ 48.8%15,548– 8.7%223Lexus ES822– 18.0%91,810– 26.0%464Mercedes GLC637– 3.0%161,226+ 10.4%1185Mercedes C Class610+ 41.5%41,388+ 0.1%7166BMW X5572+ 5.1%31,762+ 21.9%5127Mercedes GLE524– 1.5%71,540+ 93.5%678Porsche Cayenne518– 12.8%61,365– 13.9%8159Mercedes E Class505– 74.8%22,117– 53.7%3110BMW 3 Series432+ 0.9%19896– 27.4%15911BMW X3421– 32.0%81,270– 27.6%101412Mercedes S Class407– 61.3%12937– 69.4%14413Audi Q4 e-Tron396newn/a500new24n/a14BMW 7 Series388+ 138.0%11807+ 104.8%192115Volvo XC60374– 49.0%51,275+ 20.7%91016Mini Countryman357+ 55.2%10883+ 89.1%162717BMW X7356+ 20.3%131,041+ 33.3%121818BMW X4356– 22.1%15977– 51.5%131319VW ID.4351newn/a360new37n/a20Mini Cooper Hatch336– 2.6%18838+ 10.1%182021BMW X6311– 14.6%14871+ 5.1%171922Toyota RAV4265– 9.9%20652– 6.1%212523Mercedes A Class261+ 230.4%21666+ 109.4%20n/a24Mercedes EQE238+ 3.5%32419– 20.8%342325VW Tiguan235+ 2.2%23438– 25.6%311726Polestar 2219+ 226.9%n/a222+ 231.3%51n/a27VW Jetta212+ 265.5%27387+ 166.9%36n/a28BMW i5195new31522new23n/a29Volvo S60190+ 38.7%n/a332– 0.9%40n/a30BMW 2 Series186+ 126.8%n/a449n/a28n/a31Lexus RX176n/a28447n/a29n/a32BMW 6 Series175– 62.6%25484– 68.0%261133BMW X1172+ 1811.1%24485+ 1920.8%253834Volvo S90171– 47.4%33451– 51.7%272435Mercedes G Class170+ 608.3%n/a253n/a483436Mercedes CLE167new39261new46–37BMW iX3164+ 62.4%22443+ 321.9%302838Volvo XC40157– 51.4%29420– 6.5%333639Mini Clubman147– 15.5%41350+ 5.7%393540Lexus NX136– 48.5%17638– 0.6%222241Toyota Camry126– 54.8%30424– 17.2%32n/a42Range Rover123– 62.0%n/a304– 64.9%433043Mercedes GLS121– 36.3%n/a358+ 66.5%383944BMW 4 Series121+ 8.0%35318+ 3.9%42n/a45Ford Mustang119+ 561.1%26291+ 870.0%44n/a46Honda Accord119+ 600.0%n/a216n/a52n/a47Ford Explorer118– 69.0%n/a253– 70.0%47n/a48Lincoln Nautilus117+ 11600.0%37389n/a35n/a49Mercedes EQB111– 22.4%34329– 11.8%413750Lincoln Aviator108+ 111.8%46283+ 152.7%45n/a

Source: Manufacturers, Motorgraph