South Korea's top automakers saw a 3% decline in domestic sales in May

From Yahoo Finance: 2025-06-17 05:33:00

Domestic sales by South Korea’s top automakers fell by 3% in May 2025, with Hyundai leading the market. Economic challenges, including high household debt and trade policy uncertainty, continue to affect consumer sentiment. The central bank cut interest rates to boost domestic consumption amid a 0.2% GDP contraction in Q1.

Hyundai Motor’s global sales decreased in May, reflecting weaker domestic and overseas sales. Kia saw a slight decline in global sales but experienced growth in domestic sales. Both companies have set ambitious sales targets for 2025 and are focusing on introducing new models to sustain growth momentum.

GM Korea’s global sales declined in May due to weaker domestic sales, with a potential relocation to the US in response to import duty hikes. KG Mobility reported a rebound in global sales, while Renault Korea’s global sales rebounded significantly, driven by domestic sales and exports.

Kia is targeting a 4% increase in global sales in 2025, supported by new model launches and a focus on electric vehicles. KGM plans to expand its zero-emissions vehicle range and has entered a strategic partnership with China’s Chery Automobile Company. Renault Korea continues to overhaul its product range with a focus on SUVs and hybrid vehicles.



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