In 2022, the Hyundai Porter was the top-selling domestic car model in South Korea with a sales volume of around 92,400, followed by Kia's Sorento with about 69,000 units. The Porter ranked first in unit sales for the second consecutive year.
The South Korean automotive industry
The South Korean automotive industry has become one of the largest in the world. The country is now one of the biggest producers of cars globally, reaching production levels comparable to that of Germany. While the sales of passenger cars domestically have not reached their pre-COVID-19 levels yet, export figures of passenger cars from Korea show signs of recuperating from the pandemic. Regarding imports, especially German car models enjoy a high degree of popularity in the country.
Hyundai Motors
Hyundai Motor Company and KIA Motors are the leading car manufacturers in the country. Both also rank among the strongest car brands worldwide. Originally two distinct companies, Hyundai Motors Company acquired 51 percent of KIA Motors’ shares when the latter declared bankruptcy during the Asian financial crisis in the late 1990s and today retains around one-third of the company. The alliance also comfortably ranks first in the domestic manufacturing market, ahead of Renault’s and General Motors’ Korean branches as well as the country’s third domestic producer, KG Mobility Corporation (formerly SsangYong Motor Company).
