South Korean automakers see 1.6% sales growth in October

South Korean automakers reported a recovery in October, with total global sales reaching 683,221 units, a 1.6% increase compared to the same period last year. This growth was primarily driven by strong domestic performance from Kia and robust exports from GM Korea.

Kia led the domestic market with 51,110 units sold, a 27.5% increase from the previous year, overtaking Hyundai as the top seller in South Korea. Kia's global sales rose 10.3% to 291,219 units, supported by high demand for RV models like the Sportage and Seltos.

GM Korea also saw significant growth, with total sales increasing 26.6% year-on-year to 50,189 units. While domestic sales for GM declined, exports surged by 28.5%, fueled by the popularity of the Chevrolet Trax Crossover and Trailblazer.

In contrast, Hyundai Motor experienced a 6.3% decline in global sales, totaling 329,773 units. Both its domestic and international sales fell compared to October of the previous year. KGM also saw a 31.3% decrease in total sales due to weakened consumer sentiment and declining global demand.