Home gross sales by South Korea’s 5 most important automakers mixed declined by nearly 3% to 129,392 items in December 2021 from 133,061 items a 12 months earlier, based on preliminary knowledge launched individually by the businesses.
The info doesn’t embody gross sales by South Korea’s low-volume business car producers comparable to Tata-Daewoo and Edison Motors, in addition to gross sales of imported automobiles that are coated in a separate report later within the month.
In contrast with earlier months, the year-on-year decline was a lot much less extreme, with native producers pointing to a gradual easing of provide chain bottlenecks since September. The expiry of the gross sales tax low cost on the finish of the 12 months additionally helped raise native shopping for curiosity final month. Automobile output final month continued to be affected by the worldwide scarcity of semiconductors, nonetheless.
Most native car producers suffered falls in home gross sales in December – the one exception being Kia which reported a 23% rebound to 47,789 items because it adjusted its gross sales priorities within the last month of the 12 months. Hyundai reported a gross sales decline of three.5% to 66,112 items, whereas Renault Samsung’s gross sales have been down by 11% at 7,162 items and Ssangyong’s gross sales fell by 31% to five,810 items. GM Korea was once more the worst performing model final month, with gross sales plunging by 73% to 2,519 items.
General home gross sales final 12 months have been down by nearly 11% at 1,433,585 items from 1,606,971 items in 2020.
International gross sales among the many nation’s “big-five” automakers, together with automobiles produced abroad by Hyundai and Kia, declined by over 12% to 578,211 items in December from 659,239 items year-earlier gross sales, with the worldwide scarcity of semiconductors and the latest surge in coronavirus infections affecting manufacturing and gross sales domestically and abroad. Whole car gross sales final 12 months have been up by simply 2.4% at 7,113,592 items from 6,944,094 in 2020.
Abroad gross sales fell by nearly 15% to 448,819 items final month from 526,178 items a 12 months earlier, whereas full-year volumes have been greater than 6% greater at 5,680,007 items from 5,337,123 items after demand in markets comparable to Europe, the Americas and Russia rebounded strongly earlier within the 12 months from depressed 2020 ranges.
Hyundai Motor’s world gross sales dropped by nearly 11% to 334,242 automobiles in December 2021 from 375,193 items a 12 months earlier, reflecting declining home and abroad gross sales as the worldwide scarcity of semiconductors continued to have an effect on manufacturing. International gross sales final 12 months have been up by simply 4% at 3,890,981 items from 3,744,737 in 2020, with a powerful first half offset partly by a pointy decline within the second half of the 12 months. Because the scarcity of semiconductors grew to become extra acute within the second half of the 12 months, Hyundai prioritised gross sales of its Ioniq 5 electrical car and gross sales of its Genesis premium model globally. Home gross sales declined by 3.5% to 66,112 items final month from 68,486 items a 12 months earlier, whereas full-year gross sales have been down by nearly 8% at 726,838 items from 787,854 items. Deliveries within the second half of the 12 months have been impacted by surging coronavirus infections in addition to by regional provide chain shortages, significantly semiconductors.
Abroad gross sales fell by nearly 13% to 268,130 in December from 306,707 a 12 months earlier, with deliveries in India falling by 32%. Full-year gross sales have been nonetheless up by 7% at 3,164,143 items from 2,956,883 items – pushed by rebounding demand in North and South America, Europe and Russia earlier within the 12 months.
Hyundai stated it expects its world gross sales to rise by over 11% to 4,323,000 automobiles in 2022, pushed by a 13.5% rise in abroad gross sales to three,591,000 items as world demand continues to get better from the latest declines. Home gross sales are anticipated to be simply barely greater at 732,00 items.
Kia’s world gross sales fell by over 4% to 208,965 automobiles in December from 217,751 items a 12 months earlier, reflecting falling abroad gross sales which the corporate blamed on the continued world scarcity of semiconductors. Full-year gross sales have been nonetheless up by over 6% at 2,768,692 items from 2,607,414 items a 12 months earlier, with the Sportage SUV its best-selling mannequin globally.
Home gross sales rebounded by 23% to 47,789 items final month from 38,857 items a 12 months earlier, as the corporate adjusted its gross sales priorities following sharp declines in earlier months. Full-year gross sales have been down by over 3% at 534,016 items from 552,399 items, regardless of sturdy demand for the Sportage and Sorento SUVs and the Carnival MPV.
Abroad gross sales fell by nearly 10% to 161,176 items in December from 178,894 items a 12 months earlier, whereas full-year volumes have been nonetheless nearly 9% greater at 2,234,676 items from 2,054,766 items – pushed by rebounding demand in Europe and North America earlier within the 12 months.
The automaker stated it expects its world gross sales to develop to three.15 million unit in 2022, together with 562,000 home gross sales and a couple of.59 million items abroad, helped by new fashions such because the EV6 GT and the all-new Niro.
GM Korea’s world gross sales plunged by nearly 71% to 13,531 automobiles in December from 46,717 items a 12 months earlier, with the continued world semiconductor scarcity affecting each home and export gross sales. Over the total 12 months the corporate’s world gross sales declined by 36% to 237,044 items from 368,453 items in 2020.
Home gross sales plunged by 73% to 2,519 items final month from 9,259 items a 12 months earlier and have been down by over 34% at 54,292 items over the total 12 months from 82,891 items beforehand. The corporate revealed final month it plans to strengthen it native line-up with the launch of ten electrical car fashions by 2025, which it’s going to import from North America.
Exports plunged by nearly 71% to 11,012 items in December from 37,458 items and by over 36% to 173,095 items year-to-date from 270,734 items.
Renault-Samsung, 81%-owned by France’s Renault, noticed its world gross sales surge greater than 41% to 12,718 items in December from weak year-earlier gross sales of 9,016 items, reflecting a powerful rebound in abroad gross sales. Full-year world gross sales elevated by over 14% to 132,769 items from 116,166 in 2020.
Home gross sales continued to fall final month, by nearly 11% to 7,162 items from 8,010 items a 12 months earlier and have been down by 36% at 61,076 items over the total 12 months from 95,939 items, because the automaker confronted more and more robust competitors from home rivals Hyundai and Kia and from imports.
Exports continued to rebound strongly in December, with volumes surging to five,556 items from 1,006 a 12 months earlier as the corporate stepped up shipments of the XM3 and QM6 SUVs to Europe. Final 12 months the corporate’s exports elevated greater than threefold to 71,693 items from 20,227 items in 2020.
Ssangyong Motor’s world gross sales fell by over 17% to eight,755 automobiles in December from 10,561 items a 12 months earlier, reflecting a pointy decline in home gross sales. Whole volumes have been down by 22% at 84,106 items in 2021 12 months from 107,324 within the earlier 12 months.
Home gross sales fell by 31% to five,810 items final month from 8,449 a 12 months earlier and by nearly 33% to 59,177 items in 2021 from 87,888 items beforehand. Exports jumped by 37% to 2,945 items in December from 2,142 items and have been up by 28% at 24,929 items final 12 months from 19,436 items.
A consortium led by native electrical car producer Edison Motors Firm has agreed to take over the financially-troubled automaker for KRW305bn (US$256m) and was scheduled to make a primary cost of 10% of the acquisition price upon signing the ultimate deal the tip of December.