South Korea report: domestic sales rise 3% in October
Domestic sales by South Korea’s five main automakers combined increased by 3% to 105,588 units in October 2026 from 102,364 units in the same month last year, following sharp declines in the previous two months, according to preliminary wholesale data released individually by the main manufacturers. The data do not include sales by South Korea’s low-volume commercial vehicle manufacturers, including Tata-Daewoo and Edison Motors, while sales by imported brands are covered in a separate report later in the month.
Domestic sales last month were supported by a sharp rise in Kia sales, which surged by 27% year-on-year to 51,007 units, offsetting declines at all other domestic manufacturers. The market this year has been affected by production losses at Hyundai Motor, starting with a fire at a key supplier earlier this year which caused component shortages, followed by industrial action by union workers in the third quarter. The automaker blamed weaker sales in the last two months on new model changeovers.
In the first ten months of the year, domestic vehicle sales fell by 6.6% to 1,059,895 units, including limited exports of Kia special purpose vehicles (SPVs), from 1,134,596 units a year earlier. Hyundai remained the domestic market leader despite a 16% sales decline to 497,223 units, while Kia was the only brand to report an increase in this period, of 7.4% to 487,308 units. KG Mobility reported a 10% decline to 30,853 units, while Renault Korea’s sales fell by 32% to 29,906 units. GM Korea was the worst performer among the mainstream domestic manufacturers, with domestic sales plunging by over 36% to 8,294 units.
Global sales by the country’s “big-five” automakers, including vehicles produced overseas, declined by 1% to 6,560,818 units year-to-date, compared with 6,628,681 units a year earlier, while overseas sales were slightly higher at 5,500,923 units from 5,489,687 units.
Hyundai Motor ’s global sales continued to decline in October 2026, by 6.3% to 329,773 units from 352,083 units in the same month last year, following sharp declines in previous months. Total volumes in the first ten months of the year declined by 6.9% to 3,218,586 units from 3,457,429 units, with output affected by component shortages earlier in the year and by industrial action in the third quarter.
Domestic sales fell by 9% to 49,042 vehicles last month from 53,822 units a year earlier, following a 26% plunge to 66,001 units in September, resulting in a 16% decline to 497,223 units in the first ten months of the year from 589,280 units previously. Overseas sales fell by 5.9% to 280,731 units in October from 298,261 units a year earlier, while year-to-date volumes were 5.1% lower at 2,721,363 units from 2,868,149 units.
Hyundai has reduced its full-year 2026 global sales target to 4 million units, including its Genesis luxury brand, from the 4.158 million units it announced in January. This includes 664,000 domestic sales, down from its previous forecast of 700,000 units, and 3.336 million overseas sales, down from 3.4583 million, following sharper-than-expected sales declines in China, the Middle East and Europe.
Kia reported a 10.3% rise in global vehicle sales to 291,219 units in October, up from 264,017 units a year earlier, driven by stronger domestic and overseas sales. In the first ten months of the year, Kia’s global sales increased by 5.1% to 2,769,954 units from 2,636,690 previously, with the Sportage its best-selling model in this period with 510,851 deliveries, followed by the Seltos with 325,593 units.
Domestic sales rebounded strongly in October, surging by over 27% to 51,007 units from 40,001 units a year earlier, following a 7% decline to 45,705 units in September, with the Sportage SUV being its best-selling model with 7,708 sales, followed by the Sorento with 6,784 units and the Carnival MPV with 5,570 units. In the first ten months of the year, Kia’s domestic sales increased by 7.4% to 487,308 units from 453,943 units.
The automaker also reported a 43% rise in sales of special purpose vehicles (SPVs) to 6,311 units in this period, up from 4,398 units a year earlier, most of which were military vehicles sold domestically. As the company does not split this number by domestic and export sales, all deliveries are reported under domestic sales.
Overseas sales rose by 7.2% to 239,308 units in October from 223,215 units a year earlier, led by the Sportage with 49,103 sales, followed by the Seltos SUV with 33,552 units and the K4 with 18,720 units. In the first ten months of the year, overseas sales increased by 4.5% to 2,276,335 units from 2,178,349 units.
Kia has kept its earlier full-year 2026 global sales forecast at 3,350,000 units, a 7% increase over 2025, including 565,000 domestic sales and 2,775,000 overseas sales, along with 10,000 global SPV sales. The forecast announced at the beginning of the year included 915,000 deliveries in the US, 594,000 units in Europe, and 302,000 units in India, helped by new model launches.
GM Korea ’s global sales continued to grow sharply in October 2026, by 27% to 50,189 units from 39,630 units a year earlier, reflecting a sharp increase in exports. In the first ten months of the year, the company’s global sales increased by 18% to 431,974 units from 366,011 units.
Domestic sales dropped by 33% to 799 units in October from 1,194 units a year earlier, while year-to-date volumes were down by 36% to 8,294 units, following a 37% plunge to 12,979 units in the same period last year. The automaker continued to struggle with rising competition from other domestic automakers and importers. The company recently unveiled its new Chinese-made Buick Electra E7 plug-in hybrid, which will soon be added to the line-up alongside other imported models including the battery-powered Escalade IQ premium SUV, the Colorado pickup truck, and the GMC Sierra Denali.
Exports increased by over 28% to 49,390 units last month, mainly comprising the Trax crossover vehicle and the Trailblazer SUV, after shipments fell by 20% to 38,436 units a year earlier, resulting in a 20% rise to 423,680 units year-to-date from 353,032 units previously.
GM Korea has been set a target of producing 500,000 vehicles in 2026, up from 462,310 units in 2025, mainly to meet growing overseas demand, particularly in the US. The company recently indicated that it was planning to invest US$ 600 million in the next few years to upgrade its local operations, although a final decision on the production of next-generation models has yet to be announced.
KG Mobility (KGM) reported a 31% drop in global sales to 6,537 vehicles in October, down from 9,517 units a year earlier, reflecting sharp declines in both domestic and overseas sales. In the first ten months of the year, global sales declined by 4.7% to 87,570 units from 91,905 units previously.
Domestic sales plunged by 42% to 2,037 units in October from 3,537 units a year earlier, resulting in a 10% decline to 30,853 units year-to-date from 34,469units. Exports of built-up and knocked-down vehicles fell by 25% to 4,500 units last month from 5,980 units a year earlier, despite stepped-up marketing campaigns across Europe and expansion into new emerging markets, including Myanmar and Ethiopia. Overseas sales in the first ten months of the year were 1.3% lower at 56,717 units compared with 57,436 units previously.
KGM has strengthened its strategic partnership with Chery Automobile, with the Chinese automaker agreeing to invest US$ 75 million in the company to help speed up new product development and provide access to a broader range of its technologies for software-defined vehicles (SDVs), including electrical and electronic architectures, electrified powertrains, and autonomous driving technologies. KGM recently revealed plans to introduce “at least ten” new models by 2030.
Renault Korea ’s global sales continued to plunge in October, falling by almost 24% to 5,503 units from 7,201 units a year earlier, despite the launch of the new Filante hybrid SUV earlier this year, with domestic sales and exports both sharply lower. In the first ten months of the year, global sales were down by 31% to 52,734 units from 76,646 units previously.
Domestic sales dropped by 29% to 2,703 units last month from 3,810 units a year earlier, and were down by almost 32% to 29,906 units in the first ten months of the year from 43,925 units. Exports declined by 17% to 2,800 units in October from 3,391 units, and were down by 32% to 22,828 units year-to-date from 32,721 units.
The company began production of its new Filante flagship SUV at its Busan plant in January, with domestic sales beginning in April. The model, based on Chinese automaker Geely’s Compact Modular Architecture (CMA) platform, is powered by Renault’s new-generation E-Tech 250 hybrid powertrain. The Busan plant has been designated as a global production hub for the group’s D- and E-segment models, as well as all-electric models.