Summary
Korean vehicle production in 2013 decreased by 0.8% year-over-year (y/y) to 4.52 million units (excluding the imported cars). Sales in Korea fell 1.9% to 1.38 million units in the face of surging imports. Meanwhile, exports from Korea also dropped 2.6% to 3.09 million units partly because of the appreciation of the Korean Won for these two years. According to the outlook announced by Korea Automobile Manufacturers Association (KAMA) in February 2014, production in Korea for 2014 will rise to 4.6 million units, a 1.7% increase y/y. Sales in Korea are expected to edge up by 1.2% y/y to 1.40 million units, while exports from Korea will grow by 3.6% y/y to 3.2 million units.
Hyundai Motor Group has been losing its market share in Korea to growing imported cars. The group reported sluggish sales in the developed markets including Europe and the U.S. while it experienced growth in production and sales in China and other emerging markets. In order to enhance business in China, Hyundai Motor Company plans to build a new plant in Chongqing.
According to LMC Automotive's forecast in March 2014, Korean light vehicle production will rise to 4.56 million units in 2014, but will fall to around 4.45 million units in 2015-2016. Hyundai's launch of the redesigned Sonata is expected to boost production in 2014, while GM's plan to end sales of Chevrolet vehicles in Europe should reduce output in Korea in 2015-2016. LMC Automotive anticipates that production will rebound to 4.54 million units in 2017.
Related Reports:
Features on new Hyundai/Kia models: Genesis adopts multiple active safety systems (Mar. 2014)
Hyundai-Kia in China: 2.4 million in vehicle sales targeted for 2016 (Dec. 2013)
Local Reconstruction Note
This article has been expanded from the visible local mirror text, headings, tags, image captions, tables, and related local article titles. It is presented as a reconstructed reading version, not as a hidden original document.
Hyundai/Kia Group's market share in Korea fell to 68% in 2013
The source outline identifies this section as part of “Korea aims to produce 4.6 million vehicles in 2014”. Based on the available local metadata, this section should be read through the lens of Korea, Samsung SDI, Ssangyong, Renault Samsung, Sales Forecast, Automotive and the visible introduction, figures, captions, and tables.
German cars dominate Korean import market
The source outline identifies this section as part of “Korea aims to produce 4.6 million vehicles in 2014”. Based on the available local metadata, this section should be read through the lens of Korea, Samsung SDI, Ssangyong, Renault Samsung, Sales Forecast, Automotive and the visible introduction, figures, captions, and tables.
Production capacity of 5.56 million in Korea and 4.39 million overseas
The source outline identifies this section as part of “Korea aims to produce 4.6 million vehicles in 2014”. Based on the available local metadata, this section should be read through the lens of Korea, Samsung SDI, Ssangyong, Renault Samsung, Sales Forecast, Automotive and the visible introduction, figures, captions, and tables.
Hyundai Motor Group aims to sell 7.86 million units globally in 2014
The source outline identifies this section as part of “Korea aims to produce 4.6 million vehicles in 2014”. Based on the available local metadata, this section should be read through the lens of Korea, Samsung SDI, Ssangyong, Renault Samsung, Sales Forecast, Automotive and the visible introduction, figures, captions, and tables.
GM Korea to cope with reduced production of vehicles for Europe
The source outline identifies this section as part of “Korea aims to produce 4.6 million vehicles in 2014”. Based on the available local metadata, this section should be read through the lens of Korea, Samsung SDI, Ssangyong, Renault Samsung, Sales Forecast, Automotive and the visible introduction, figures, captions, and tables.
Related Local Signals
Nearby records in the local archive include GlobalData Global Light Vehicle Sales Update (March 2026); GlobalData European Passenger Car Sales Update (March 2026); GlobalData Global Light Vehicle Sales Update (February 2026); GlobalData European Passenger Car Sales Update (February 2026). These titles can be used as adjacent evidence when comparing suppliers, technologies, markets, and reporting periods.