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Falling off a cliff: Korean brand PV end-user sales down 38.52 percent in Q1 2017

According to data from CBU Analytics, China’s registration volume of passenger cars, MPVs and SUVs in Q1 2017 slumped 10.48 percent year-on-year. Korean brands had the worst performance among brands of different origins, with end user sales down 38.52 percent to 267,310 units, accounting for 5.48 percent of passenger vehicle registration volume, compared to 7.99 percent in Q1 2016. Hyundai and Kia brand sales both decreased nearly 40 percent. In March, when sales of brands from other countries recovered, Korean brand sales still fell 37.02 percent to just 70,476 units.  

For the top 10 bestselling locally produced Korean models in Q1 2017, Hyundai had seven models and Kia had three. Their combined sales were 208,624 units, accounting for nearly 80 percent of locally produced Korean model registration volume. The Hyundai Elantra family – the Elantra, Yuedong, Langdong and Lingdong – sold 58,267 units in Q1 2017. Due to lack of new models and effects from the “THAAD” fallout, sales of Korean brand passenger cars and SUVs, which accounted for 30 percent of total Korean brand PV registration volume, both decreased 30 percent in Q1 2017.

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