Kuala lumpur: South Korea's three midsized carmakers have posted sluggish domestic sales through the third quarter of 2025, falling behind major foreign brands amid a lack of new models, data showed Sunday. The combined domestic sales of Renault Korea Motors, KG Mobility Corp., and GM Korea Co. came to 82,464 units as of September, raising concerns that their annual sales may barely hover around 100,000 units this year, marking a record low.
According to Yonhap News Agency, the three carmakers' total domestic sales stood at 109,101 units in 2024. By company, Renault Korea Motors sold 40,431 units as of end-September, followed by KG Mobility with 29,969 units, and GM Korea with 12,064 units. Their performances lagged behind those of major imported brands, with BMW, Mercedes-Benz, and Tesla posting domestic sales of 57,840, 48,248, and 43,637 units, respectively, over the same period.
"It is concerning South Korean carmakers' performance lagged behind Tesla, which has introduced only the Model Y here," an industry official said. The three midsized carmakers have been gradually losing ground in the domestic market, with their combined market share standing at 7.6 percent last year, compared with 11.2 percent in 2021.
Industry watchers attributed the sluggish performance to the delayed releases of new models, noting that Renault Korea Motors, which had typically lagged behind its medium-sized rivals, posted the highest domestic sales among the three in the first nine months of the year on the back of its Grand Koleos sport utility vehicle released last year.