Korean car companies boost production by 23.2%, as sales rise by 22.2%

Production by Korean car companies increased by 23.2 percent while sales jumped 22.2 percent on-year in September, according to the Ministry of Trade, Industry, and Energy.

Korean carmakers sold 137,771 cars in the domestic market in September.

It also exported 193,081 units, which represents a 14.8 percent increase on-year.

While sales of German and Japanese cars are recovering, there were only 24,945 units of imported cars sold in the month, down 9.7 percent on-year.

The ministry attributed the increased domestic sales and production to the rising popularity of sport utility vehicles and newly-released models.

Meanwhile, sales recovery in the US market contributed to export growth.

The five bestsellers in the domestic market were all Korean-made, with Hyundai’s Grandeur topping the list with 11,590 units sold.

Kia’s Carnival was second with 10,130 units, followed by Kia’s Sorento third with 9,151 units, and Hyundai’s Avante with 9,136 units.

Kia’s K5 rounded up the top five, selling 7,485 units.

For the first nine months of the year, the Grandeur also came out on top with 113,810 units sold.

The K5 came in at second with 66,716 units sold, while the Avante followed at third.

The Sorento was fourth, followed by the Sonata.

Electric and plug-in hybrid vehicles comprise 24,375 units sold in September, jumping 158.1 percent from the same month last year.

Environmentally-friendly cars accounted for 15 percent in September 2020, growing from 7.1 percent of total sales in September 2019.