February and March are months when sales of compact cars peak. Many students and young professionals, who are often on a tight budget due to graduation, entry into the workforce, and other life events, tend to buy compact cars.
The biggest winner is Kia. Sales of Kia’s compact car models have seen a significant increase across the board.
The Morning recorded 2,049 units sold, up 13% from the previous month’s 1,813 units. The Ray sold 4,268 units, which is a 19.1% increase from last month’s 3,585 units. Compared to March of last year, the Morning has more than doubled its sales from 1,700 to 3,559 units, while the Ray increased from 3,218 units to 3,566 units, marking a 9.7% rise.
Hyundai’s Casper also saw increased sales. The Casper sold 3,164 units, up 3.1% from last month’s 3,070 units. Compared to March last year, it rose from 3,304 units to 3,725 units, an increase of 11.3%.
Kia’s domestic business unit stated, “February and March are traditionally the peak seasons for compact car sales, coinciding with graduation and entry seasons. As a result, we see a surge in sales among students and young graduates.”
This month is expected to see a significant rise in compact car sales, especially because of the ongoing entry season, barring any unforeseen circumstances.
Compact cars are also strong in the used car market.
According to Kaizu, the most sold car in the used car market last month was the Morning. It outperformed the Grandeur HG (3,727 units) and Grandeur IG (3,663 units), with 4,200 units sold. The Chevrolet Spark (3,395 units) and Kia Ray (2,517 units) followed, ranking fourth and fifth in used car sales, respectively, indicating that compact cars continue to thrive even in the second-hand market.
Online used car platform Carms stated, “February and March traditionally see an increase in customers, primarily consisting of new employees and students, leading to a high sales period for used compact cars,” explaining the peak sales season for compact cars.
Lee Sang-jin daedusj@autodiary.kr