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South Korean automotive industry sales performance

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2026-11-03 11:57 UTC → 2026-11-09 18:30 UTC · added ~~removed~~

South Korean automakers reported a 1.6% increase in global sales for October, totaling 683,221 units. This recovery was driven by Kia, which saw a 10.3% rise in global sales and overtook Hyundai as the top seller in the South Korean domestic market. Kia sold 51,110 units domestically, a 27.5% increase from the previous year, supported by demand for RV models like the Sportage and Seltos. GM Korea also experienced significant growth, with total sales increasing 26.6% year-on-year, largely due to a 28.5% surge in exports. In contrast, Hyundai Motor reported a 6.3% decline in global sales, and KGM saw a 31.3% decrease in total sales, attributed to declining global demand and weakened consumer sentiment. Recent data indicates a substantial surge in electric vehicle (EV) sales within the South Korean market for Hyundai Motor Group. Combined sales for the IONIQ and EV series reached 12,267 units in October, a 95.9% increase compared to the previous year. Kia led this growth with its EV series rising 110.1%, specifically seeing a 209.4% surge for the EV5 and 119.5% for the EV3. Hyundai’s IONIQ series sales rose 68.8%. Analysts attribute this rebound to manufacturer discount policies and upcoming changes to government subsidy standards. However, Chinese-made passenger EVs continue to expand in South Korea, with registrations reaching 112,417 units between January and September, a 2.2-fold increase from the previous year.

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