![]() Kia K3 (Forte, Cerato), K5 (Optima), K7 (Cadenza), Sorento Hyundai Avante (Elantra), Tucson, Santa Fe, Genesis, i30, i40, etc. Vehicle production capacity in Korea by OEM Most of the Chevrolet vehicles sold in Europe are sourced from Korea. GM Korea's production is anticipated to shrink since GM plans to discontinue sales of Chevrolet vehicles in Europe at the end of 2015. Kia Motors has expanded the capacity at its Gwangju plant from 500,000 to 620,000 in 2013, but operations of new facilities seemed to delay due to the strikes and suspension of overtime work on weekends. In Korea, vehicle production capacity totals 5.56 million units, of which 3.87 million units are held by Hyundai Motor Group. (Note) Toyota's sales decreased in 2013 partly because its sales had doubled in 2012 with successive launches of new models. As a result, growth of import registrations will be slower compared to a 20% increase in 2013. While appreciation of Korean Won and lifting tariffs on European vehicles under the EU-South Korea FTA are positive factors, higher household debt and consumer doubts about the economy are negative factors. Korea Automobile Importers and Distributors Association (KAIDA) disclosed a forecast in December 2013 that new import registrations for 2014 will increase by 11.2% y/y to 174,000. By powertrain, more than 60% of the imported cars were powered by diesel engines. BMW totaled 33,066 units (21.1% of import market), ranking first. By brand, German brands dominated the higher rankings. Every OEM's active marketing activities, rising demand for diesel models, and growing purchase by younger consumers boosted sales of imported cars. New registrations of imported cars in Korea for 2013 reached 156,497 units, up by 19.6% y/y, passing the 150,000 mark for the first time. Sales in Korea do not include imported cars.Ģ014 outlook for production, sales and exports was announced by KAMA in February 2014 while that for imports was disclosed by Korea Automobile Importers and Distributors Association (KAIDA) at the end of 2013. Korean vehicle production, sales, exports and imports Source: Korea Automobile Manufacturers Association (KAMA) The share of imported cars expanded from 10.0% in 2012 to 12.1%. The automaker ranked fourth, surpassing Renault Samsung which gained a share of 4.6%. Ssangyong expanded its share to 4.9% with growing demand for its SUVs. GM Korea maintained its market share of 10.1%. Both Hyundai and Kia lost their market shares in the face of surging imported cars and due to their lack of new models and green cars. In Korean passenger car market for 2013, Hyundai Motor Group's share fell from 71.7% in 2012 to 68.3%. Hyundai-Kia in China: 2.4 million in vehicle sales targeted for 2016 (Dec. LMC Automotive anticipates that production will rebound to 4.54 million units in 2017.įeatures on new Hyundai/Kia models: Genesis adopts multiple active safety systems (Mar. Hyundai's launch of the redesigned Sonata is expected to boost production in 2014, while GM's plan to end sales of Chevrolet vehicles in Europe should reduce output in Korea in 2015-2016. In order to enhance business in China, Hyundai Motor Company plans to build a new plant in Chongqing.Īccording to LMC Automotive's forecast in March 2014, Korean light vehicle production will rise to 4.56 million units in 2014, but will fall to around 4.45 million units in 2015-2016. while it experienced growth in production and sales in China and other emerging markets. The group reported sluggish sales in the developed markets including Europe and the U.S. ![]() Hyundai Motor Group has been losing its market share in Korea to growing imported cars. Sales in Korea are expected to edge up by 1.2% y/y to 1.40 million units, while exports from Korea will grow by 3.6% y/y to 3.2 million units. According to the outlook announced by Korea Automobile Manufacturers Association (KAMA) in February 2014, production in Korea for 2014 will rise to 4.6 million units, a 1.7% increase y/y. Meanwhile, exports from Korea also dropped 2.6% to 3.09 million units partly because of the appreciation of the Korean Won for these two years. Sales in Korea fell 1.9% to 1.38 million units in the face of surging imports. Korean vehicle production in 2013 decreased by 0.8% year-over-year (y/y) to 4.52 million units (excluding the imported cars).
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