Domestic Market Share of Hyundai & Kia Fell Again in September

by Oct 13, 2014All News, Hyundai4 comments

The domestic market share of Hyundai and Kia, the two biggest carmakers of Korea, fell to a new low in September as Hyundai’s new Sonata sedan failed to live up to hopes.

The Korea Automobile Manufacturers Association on Sunday said the two giants’ market share here in September was 67.3 percent, the lowest since December last year.

Hyundai struggled particularly hard with market share falling for five consecutive months from 44.6 percent in April to 37.2 percent in September. Although the new Hyundai Sonata was launched in April, the boost was short-lived.

Over 10,000 Sonatas were sold in April and May, but since June, figures are down to 6,000 to 7,000 a month. Only the new Genesis sold well. As for Kia, its Carnival minivan and latest modified Sorento SUV are selling rapidly, preventing a bigger drop in the total figures. Kia’s market share has recovered from 25.4 percent in June to 30.1 percent in September.

Imported cars, by contrast, are selling better than ever. In September, 17,027 imported cars were sold, up 34 percent from a year ago, and sales have risen for 33 months on-year.

In the first nine months this year, 145,844 imported cars were sold, and at this rate the total to surpass 190,000 by year-end.

Minor Korean carmakers like GM Korea, Renault Samsung and Ssangyong are heavily promoting sales with new diesel and SUV models.

Hyundai will launch the luxury Aslan sedan, sized somewhere between the Grandeur and Genesis, at the end of the month, and the Sonata Hybrid next month in hopes of reclaiming market share.

Written by Jose Antonio López

Passionated about Korean cars from Hyundai, Kia & Genesis. Photographer. I love being in nature, hiking. Tech lover.

4 Comments

  1. Mobis21

    Not surprised by the less than enthusiastic sales of the warmed over redesign of the “all new 2015 Sonata” in the Korean Domestic market. Expect U.S. sales to also be less than stellar after the sell off all their 2014 Sonatas here. When you look at the 2015 Sonata nothing about it says “gotta have” looks or premium class even in person. The 2015 Sonata maybe a nice car but “nice cars” don’t attract buyers in large numbers what does is a car’s design that says “look, I am a premium, quality car that is affordable. Sophisticated” There is nothing like that projected from the 2015 Sonata’s redesign.

    The design in my opinion is timid, cowardly and invisible. And even in person, it seems almost too bland. So much for Hyundai’s design setting the bar for the industry to follow.

    Reply
    • Jeff

      Have to agree with you there Mobis21. I am disappointed with the new generation Hyundai/Kia models. The new Sonata. next Optima and Elantra don’t look a lot different from the current models. Where is Schryer’s creativity and passion gone or has he too much on his plate these days?. If I am buying a new car I expect it to be fresh and new not something warmed over.

      Reply
      • Mobis21

        Jeff just for comparison sakes, here are three year sales figures for the Hyundai Sonata starting with the 2011, 2012 and 2013 model years:

        Hyundai Sonata sales trend
        based on three model years (2011, 2012 and 2013)
        2010 Total Sales 196,623* (comparison starting point)
        2011 Total Sales 225,961 = 14% increase in sales over 2010* (highest recorded increase in last three years)
        2012 Total Sales 230,605 = 2% increase in sales over 2011
        2013 Total Sales 203,648 = 12% decline in sales over 2012* (highest recorded delcine in last three years)

        2014 Total Projected Sales based on current Year-to-Date sales of 164,934 should be around 219,912 (current YTD as of Sept 2014 164,934) 8% increase in sales over 2012. This increase seems due to the sell off of remaining 2014 models rather than any significant increase the new 2015 models.

        Looking at the average of the last 3 years, Sales of Sonata have been averaging 9.3%. With the end of 2014 production, combined sales of remaining 2014 and new 2015 Sonatas are projected to be approximately 8 percent or a 1.3 percent decline when compared against the 3 year combined sales average.

        Reply
  2. Sid

    I think 15 Sonata looks elegant, not too over designed with the swoops that should please everyone…All Hyundai need to focus now is improve reliability, dependability, and quality, as they don’t have the image like the others have. People will just compare them with the American brands that has the style and that’s it.

    Reply

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