The automotive market is heading toward polarization due to the economic downturn. Sales of small and ultra-luxury imported cars are increasing, while mid-sized car sales are sluggish and declining.
The most noticeable case is Bentley. Bentley recorded a sales volume of 676 units this year, a remarkable increase of 65% compared to 373 units last year. Despite the semiconductor shortages and the instability of raw material supplies due to the Russia-Ukraine war, Bentley, priced at an average of 290 million won per unit, generated approximately 200 billion won in revenue in the Korean market alone this year.
Rolls-Royce experienced a slight increase, with 187 units sold, up 3.3% from 181 units in the same period last year. The Mercedes-Benz luxury sedan, the S-Class, also saw a significant boost, with 10,744 units sold, representing a 57% increase from 6,805 units last year.
On the other side of the high-end car spectrum, domestic small car sales are also on the rise. The Hyundai Casper sold 4,032 units last month, surpassing the 3,464 units sold by the Palisade, becoming the best-selling model.
The cumulative sales of the Casper reached 35,012 units by September of this year, closely trailing behind the Palisade’s record of 36,880 units. Casper sales are on the rise, while the Palisade’s sales declined by 11% compared to 41,537 units sold last year in the same period.
Kia also saw increases, with the Ray selling 32,796 units, a 22% increase from 26,687 units last year. The Niro posted sales of 24,090 units, up 73% from 13,855 units last year.
While sales of ultra-luxury cars and small cars are increasing, mid-sized and large vehicles are facing declines. The Sorento sold 49,726 units, down 8% from last year’s 54,107 units, and the Carnival saw a 35% drop, with sales of 39,166 units compared to 60,974 units last year.
Lee Sang-jin daedusj@autodiary.kr