South Korea’s Automobile Sales by Segment in 2023

The South Korean automobile market (total sales volume of KAMA [Korea Automobile Manufacturers Association] and KAIDA [Korea Automobile Importers & Distributors Association] members) increased 3.1% from the previous year to 1,726,907 units in 2023. Although sales of passenger cars declined for the third consecutive year, sales of SUVs hit a record high for the second year in a row. In the SUV segment, small SUVs continued to be the driving force for the second consecutive year.