South Korea report: domestic vehicle market up 10% in January

GlobalData

Tue, February 10, 2026 astatine 5:00 AM CST 6 min read

Domestic income by South Korea’s 5 main automakers combined accrued by 10% to 99,790 units successful January 2026 from 90,702 units a twelvemonth earlier, according to preliminary wholesale information released individually by the main section manufacturers. The information bash not see income by South Korea’s low-volume commercialized conveyance manufacturers, including Tata-Daewoo and Edison Motors, portion import brands are covered successful a abstracted study aboriginal successful the month.

With this year’s Lunar New Year holidays falling successful February, the marketplace benefited from much moving days past period compared with past year, arsenic good arsenic from the caller rollout of galore caller models – peculiarly by Hyundai and Kia. The marketplace wide remains sluggish, however, with marketplace person Hyundai expecting a mean income diminution implicit the afloat year.

The system contracted by 0.3% quarter-on-quarter successful the 4th fourth of 2025, reversing a 1.3% enlargement successful the 3rd quarter, reflecting weaker concern and exports, portion home depletion was supported by caller involvement complaint cuts by the cardinal bank, from 3.5% to 2.5%.

Hyundai reported a 9% summation successful home income to 50,208 units past month, portion Kia’s income accrued by 12% to 43,107 units and KGM enjoyed a 38% rebound to 3,186 units. GM Korea was the worst performer, with home income plunging by 38% to 765 units, portion Renault Korea’s income declined by 14% to 2,239 units.

Global income by the country’s “big-five” automakers, including vehicles produced overseas, roseate by 2.7% to 610,527 units successful January from 594,345 units successful 2024, portion overseas income roseate by 1.4% to 510,737 units from 503,583 units.

Hyundai Motor’s planetary income fell by 1.0% to 307,699 vehicles successful January 2026 from 310,962 a twelvemonth earlier, with an summation successful home deliveries much than offset by weaker overseas volumes. Domestic income roseate by 9% to 50,208 units past period from 46,054 units a twelvemonth earlier, including 15,650 sedans, 18,450 SUVs and 8,670 vehicles nether its upmarket Genesis brand.

Overseas income declined by 2.8% to 257,491 units from 264,908 units a twelvemonth earlier, contempt beardown income successful cardinal markets including India.

Hyundai, including its Genesis brand, is targeting a flimsy summation successful planetary income to 4.158 cardinal units successful 2026, including 700,000 home income and 3.46 cardinal units overseas. Sales successful North America are forecast to summation somewhat to 1,231,000 units, portion income successful Europe are expected to beryllium level astatine 601,000 units; India 592,000 units (+3%), South Korea 700,000 units (-2%), and South America 328,000 units (+0.1%). The institution is looking for continued merchandise premix betterment and caller exemplary launches this twelvemonth to assistance offset rising competition, economical uncertainty and US import tariffs.