The five Korean finished carmakers released their March sales results. Kia, buoyed by strong electric vehicle sales, posted its highest first-quarter sales ever, while GM Korea, KG Mobility (KGM), and Renault Korea also grew in March. Hyundai Motor saw March sales decline both at home and abroad as geopolitical risks intensified.
Kia said on the 1st that last month's sales totaled 285,854 units, up 2.7% from a year earlier. Domestic sales rose 12.8% to 56,404 units, but overseas sales edged up just 0.4% to 228,978 units. Special-purpose vehicles climbed 74.8% to 472 units.
As a result, first-quarter cumulative sales came to 779,169 units, the highest for any first quarter since it began selling cars in 1962. A Kia official said, "Although sales in Asia and the Middle East fell in part last month due to geopolitical risks in the Middle East, eco-friendly cars showed solid demand in other regions, leading to record first-quarter sales."
Electric vehicles led the first-quarter results. First-quarter EV sales reached 34,303 units, the highest quarterly performance ever. "EV3" sold the most at 8,674 units, followed by "PV5" and "EV5" at 8,086 and 6,884 units, respectively.
Hyundai Motor sold a total of 358,759 units at home and abroad last month, down 2.3% from the same period a year earlier. Domestic sales fell 2.0% to 61,850 units, and overseas sales decreased 2.4% to 296,909 units. First-quarter cumulative sales were 975,213 units, down 2.6%. A Hyundai Motor official said, "An unfavorable business environment persists due to expanding geopolitical risks."
In Korea, sedans sold 19,701 units, including 7,574 units of "Grandeur." Sport utility vehicles (SUVs) totaled 21,320 units, led by "Kona" (4,104 units), followed by "Tucson" (3,915 units) and "Santa Fe" (3,621 units). The premium brand Genesis recorded 10,446 units. "G80" led with 4,001 units.
It is notable that Hyundai Motor's first-quarter sales of eco-friendly vehicles were the highest for any first quarter. Thanks to 19,040 electric vehicles and 39,597 hybrids, total first-quarter sales of eco-friendly models came to 60,214 units.
Mid-sized trio GM Korea, KG Mobility, and Renault Korea all increased their March sales.
GM Korea sold a total of 51,215 units last month, up 24.2% from a year earlier. GM Korea's monthly sales jumped 41.4% year over year in January, then fell 7.6% in February, but rebounded in March. Although March domestic sales plunged 34.8% to 911 units, overseas sales rose 26.2% to 50,304 units, driving overall results. However, first-quarter sales fell 8.5% to 16,620 units.
GM Korea's export models are the Chevrolet Trax Crossover and the Trailblazer, which posted 30,761 units and 19,543 units in March, up 12.6% and 56.0%, respectively. The Trax Crossover has ranked No. 1 in Korean passenger car exports for three consecutive years, and the Trailblazer has also secured a spot among the top five passenger car export models.
KGM's sales last month totaled 10,004 units, up 5.5% from a year earlier. Monthly sales topped 10,000 units for the first time in six months since September last year (10,636 units). Exports fell 13.6% to 5,422 units, but domestic sales rose 42.8% to 4,582 units, improving overall performance. First-quarter sales increased 4.1% to 27,077 units.
The pickup "Musso," launched in January, led the overall uptrend, selling 1,854 units last month after 1,393 units in February. A KGM official said, "By early March, cumulative contracts for the Musso surpassed 5,000 units, capturing more than 80% of the domestic pickup market and receiving positive reviews."
Renault Korea also sold 8,996 units last month, up 9.0% from a year earlier. Domestic sales rose 8.4% to 6,630 units, and exports increased 10.6% to 2,366 units. As a result, first-quarter sales rose 25.8% to 5,752 units.
Renault Korea is growing with a focus on hybrid models. The company sold 5,999 hybrids in Korea last month, accounting for more than 90% of domestic sales. "Filante," which began deliveries last month, sold 4,920 units, driving overall hybrid sales.