The combined domestic and overseas sales of Korea's five carmakers in September rose by nearly 8% from a year earlier. Domestic demand continued to grow, and exports showed a recovery despite high U.S. tariff rates.
According to Hyundai Motor, Kia, GM Korea, KG Mobility (KGM), and Renault Korea on the 1st, the five companies sold 683,605 vehicles at home and abroad last month, up 7.9% from the same period a year earlier. The growth widened significantly compared with August's increase of 1.2%.
Domestic sales had a big impact, rising 18.1% from 105,448 units a year earlier to 124,515 in September this year. In particular, Kia (28.5%) and Hyundai Motor (18.3%) saw large increases. For Kia, the Sorento was the top seller last month with 8,978 units, while for Hyundai Motor the Avante led with 7,675. However, GM Korea (-37.1%), Renault Korea (-16.5%), and KGM (-9.6%) all saw declines in domestic sales.
The five companies' overseas sales in September were 558,635 units, up 2.9% from the same period a year earlier (542,658). While tariff talks with the United States continue and exporters still pay a high 25% tariff when shipping cars to the U.S. market, overall exports appear to have maintained growth thanks to export market diversification and new model launches.
Hyundai Motor's overseas sales rose 6.4% to 306,297 units. A Hyundai Motor official said, "We are continuing global sales growth year over year thanks to strong sales of key models," and added, "We will steadily expand market share by launching new models with outstanding product strength." Kia also sold 218,782 units, up 3.7%.
By growth rate, KGM recorded the highest increase at 110.7% year over year. KGM sold 6,536 vehicles overseas last month alone. A KGM official said, "For the first time in three months since June (6,200 units), we surpassed 6,000 units in monthly sales, achieving our best performance of the year," and noted, "Sales volumes of eco-friendly vehicles such as the Musso EV and the Torres Hybrid, Torres EVX, and Actyon Hybrid, which were launched globally in Germany last month, have increased." Renault Korea's overseas sales were 4,528 units, up 25.3% from a year earlier.
GM Korea, whose exports are mostly to the United States, could not avoid a decline in exports. The company's overseas sales last month were 22,492 units, down 39.2% from the same period last year.