South Koreas midsized carmakers, including Renault Korea Motors, KG Mobility, and GM Korea, face declining sales due to a lack of new models, threatening their annual targets.
- Renault Korea Motors, KG Mobility, and GM Korea reported combined domestic sales of 82,464 units by September 2025, significantly trailing behind foreign competitors.
- The sluggish performance of Renault Korea Motors, KG Mobility, and GM Korea raises concerns that their annual sales may barely reach 100,000 units this year.
- With major brands like Tesla, Inc., Mercedes-Benz, and BMW gaining market share, the automotive industry in South Korea is witnessing a challenging landscape for local manufacturers.
Why It Matters
The struggle of South Koreas midsized carmakers highlights a critical gap in innovation and model offerings compared to global leaders like Tesla, Inc.. This trend could jeopardize their market presence and influence the broader automotive market dynamics.