Hyundai Motors’ new model “Grand i” sold 8,532 units in the last month and secured first place in domestic car sales. This was a real achievement that it outpaced Kia’s “Sorento” with 15,01 units during the same period and remained number one for two consecutive months from June to July.
The Grand i’s performance reflects the trend of hybrid models in the domestic mid‑size SUV market. Last month Hyundai’s “Hybrid” sales accounted for about 26 % of total sales, and last year the Grand i’s hybrid share reached 49.6 %. If the new Grand i enters the hybrid segment, overall sales growth is expected.
Hyundai Motors recently announced that it will release a new model in the second half‑year that includes a “face lift” and “Hybrid.” This should maintain a gross profit margin of 6.3–7.3 % and allow recovery of profitability. Meanwhile Kia continues to hold first place with Sorento, recording 15,01 units sold in May. The combined market share of the two companies is about 60,000 units (38,000 for Hyundai and 27,000 for Kia).
Including Grand i, Hyundai Motors has secured a top five domestic sales ranking and earned the reputation of “national mid‑size SUV.” Compared with Kia, the next best models after Grand i are “Celtos,” “Canival,” “Sorento” and “Sportz” in that order. As of July, Grand i’s domestic sales were 46,922 units, a 23.3 % increase versus same period last year.