In a market where the top two brands, Hyundai and Kia, control together over 70% of the market share and the top 10 best-selling models ranking is almost entirely held by the two Koreans.

Up to October 2023, the new best seller is a sedan, the very popular Hyundai Grandeur, which moves up  3 spots into leadership with 96,672 sales (+77.8%).

In second place previous year’s leader the Hyundai Porter with 82,367 sales (+8.2%) followed by the  Kia Sorento -down 1 spots- with 68,379 sales (+24.7%).

The Kia Carnival rises 2 spots into 4th with 58,695 sales (+32.9%) followed by the Kia Sportage with 58,028 new registrations (+33.6%), the Hyundai Avante with 54,394 units sold (+21.4%) and the Kia Bongo with 53,249 sales (-2.8%).

In 8th ranks the Kia Seltos -up 6 spots- with 42,633 new registrations (+21.3%) ahead of the Kia Ray with 42,089 units sold (+16.4%) and the Genesis G80 closing the top 10 with 38,084 sales (+0.0%).

Tables with sales figures

In the tables below we report sales for Top 50 models.

Market Trend and Outlook

The Norwegian auto market in October 2023 falls for the third time after growing for 3 consecutive months, with 11,038 new sales (-23.3%). YTD figures at 124,386 are still down 9.7% from the previous year.

Looking at cumulative data up to October 2023 brand-wise, Tesla becomes the new leader rising 2 spots with 21,949 new sales (+73.2%) in front of Volkswagen with 18,979 units sold (+4.8%) and Toyota in 3rd with 16,574 new car registrations (-9.0%).

Mercedes maintains 4th with 7,322 sales (-28.5%) followed by Volvo – up 4 spots- at 6,925 (+1.2%), Skoda at 6,497 (-9.9%) and Ford -up 3 spots- with 6,086 registrations (-3.7%).

BMW ranks in 8th with 5,010 new sales (-39.2%), in front of Nissan -up 6 spots- with 4,425 units sold (+61.0%) and Hyundai -down 2 spots- in 10th with 4,288 sales (-39.7%).

Looking at specific models the Tesla Model Y is on top of the rankings with a 110.2% year-on-year increase in sales, followed by the Volkswagen ID.4 down 27.0%.

Medium-Term Market Trend

The auto market in Norway from 2010 to the start of 2013 maintained a general uptrend, taking sales from 154,158 in 2010 to 165,910 by the end of 2012. In 2013 at 167,013 sales the car market started a 5 year growth, reaching higher all-time highs 3 years in a row. 2018 and 2019 were losing years for the Norwegian market that fell respectively 21.5% and 7.1% culminating 2019 at 142,429.

The arrival of the pandemic didn’t effect sales in Norway that had the best performing market in Europe, falling only 0.2% to 141,467 sales.

The year of 2021 brought a boom in the market, that grew back up to 176,199 sales, but the momentum came to a halt in following year with sales falling 2.3% to 200,840 by the end of 2022. A combination of factors are behind the current industry struggle: the disruption in the global supply chain caused by a lack of raw materials, in particular for the production of microchips and Governments push towards Evs (by 2025 all cars and light vehicles in Norway must me zero-emission vehicles).

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and Top 10 models.

Market Trend and Outlook

The South Korean Vehicles Market in October 2023 falls for the second month in a row, with new sales at 137,819 (-5.0%). YTD figures at 1.42 million are up 5.0% from the previous year.

Looking at cumulative data up to October 2023 brand-wise, Hyundai maintains 1st with 523,582 sales (+16.5%), followed by Kia in 2nd with 469,781 new registrations (+7.2%), Genesis in 3rd with 104,984 units sold (-3.0%), BMW at 62,514 (-3.1%) and Mercedes in 5th with 60,988 sales (-4.4%).

SsangYong maintains 6th with 54,788 new registrations (-3.4%), in front of GM Korea at 33,525 sales (+0.6%) and Renault Samsung with 18,579 registrations (-57.6%).

Audi maintains 9th spot with 15,258 sales (-10.7%) in front of Volvo closing the Top 10 with 13,770 units sold (+37.7%).

Looking at specific models the Hyundai Grandeur is the best seller, rising 3 spots with an 77.8% increase in year-on-year sales. Previous year’s leader the Hyundai Porter falls into 2nd place despite being up 8.2%.

Medium-Term Market Trend

South Korean automotive industry has been closed to foreign vehicles import until 2012. Then, the entrance of several new competitors fueled the market growth and the domestic sales grew up until the 2015, when the all-time record was established at 1.8 million sales.

Then the market was steady until the 2020, when the strong control over the covid diffusion allowed plus incentives to support the industry, pushed up the market (+5.8%) to hit the new record of 1.87 million. In this data there was a sort of pull-ahead effect, due to the incentives and then market started to moderately decline again.

In 2021 the market lost 8.5% in volume, falling to 1.72 million cumulative sales and in 2022 also lost another 2.5%, dropping to 1.67 million sales.

Perspectives are not positive. The market is fast moving towards electrification, but the high prices offered for EVS is discouraging part of consumers. In addition the industry suffer for the supply chain disruption, for microchips shortage and demand for cars is declining.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

The best selling passenger car, considering cumulative data up to August 2023, is the Tesla Model Y with 17,102 sales and a 162.7% increase in year-on-year sales.

The Volkswagen ID.4 maintains second spot with 5,575 sales (-13.5%) and the Skoda Enyaq maintains 3rd with 4,064 (-1.8%).

The Volkswagen ID.Buzz grows 145 spots into 4th with 3,543 sales, followed by the Volvo XC40 -up 7 spots- at 3,487 registrations (+75.5%) and the Toyota BZ4X – up 103 spots- with 3,014 sales.

In seventh place ranks the Volkswagen ID.3 -up 17 spots- with 2,466 (+134.4%) ahead of the Toyota RAV4 with 2,285 (-2.1%), the Ford Mustang Mach-E with 2,135 (-12.6%) and the Audi Q4 -down 4 spots- with 1,980 (-32.3%).

Tables with sales figures

In the tables below we report sales for Top 50 models.

Market Trend and Outlook

The Norwegian auto market in 2022 totals 200,840 sales, a 2.3% decrease from the prior year. Impending tax changes push up new registrations in the last months of the year, with December posting a +78.2% with 41,441 new sales.

Looking at cumulative data from 2022 brand-wise, the leader remains Volkswagen with 26,068 sales (+9.9%) in front of Toyota with 24,381 (+8.5%) and Tesla in 3rd place at 21,303 sales (+4.4%).

Mercedes rises into 4th place amounting 15,539 sales (+21.9%) followed by BMW at 14,037 sales (+26.2%), Volvo with 12,850 (-6.3%) and Audi with 10,326 registrations (-0.3%).

Skoda rises 2 spots into 8th with 9,886 new registrations (+0.3%), in front of Hyundai with 9,044 sales (+4.3%) and Ford in 10th with 8,700 sales (-35.8%).

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and Top 10 models.

Norway is the land of electric vehicles, with 9 out of the top 10 models being pure electric and hybrid.

The best selling passenger car in 2022 is the new Tesla Model Y with 17,356 sales (+109.9%) up 3 spots from last year. 

The Volkswagen ID.4 moves into second with 11,561 sales (+33.7%) and the Skoda Enyaq reaches 3rd with 7,558 (+32.3%).

4th place is held by the BMW iX with 6,394 sales, followed by the new Hyundai Ioniq at 5,820 (+31.3%) and the Volvo Xc40 with 5,507 (-14.3%).

In seventh place ranks the Audi Q4 with 4,993 (+54.1%) ahead of the Audi E-tron with 4,874 (-15.2%), the Polestar 2 with 4,692 (+14.4%) and the Ford Mustang Mach-E with 4,226 (-31.4%).

Tables with sales figures

In the tables below we report sales for Top 50 models.

In a market where the top two brands, Hyundai and Kia, control together over 63% of the market share, the top 10 best-selling models ranking is entirely held by the two Koreans.

In 2022, the best seller is a light vehicle, the very popular Hyundai Porter, which confirms the previous year leadership, with 92,411 sales (+0.2%) and a safe gap over the followers to win the full year race.

In second place the Kia Sorento, up 3 spots, with 68,902 sales (-1.5%) followed by the  Hyundai Grandeur with 67,030 sales (+9.2%), down 1 spot.

In fourth place rises the Kia Bongo, with 64,826 sales (+8.5%) followed by the Kia Carnival with 59,058 (-19.4%), the Hyundai Avante with 58,743 (-17.3%) and the Kia Sportage with 55,394 (+39.3%) which benefited from the last generation success.

In 8th place the Hyundai Palisade with 49,737 (-5.0%) ahead of the Hyundai Sonata with 48,308 sales and the Hyundai Casper, rising 27 spots into 10th with 48,002 sales (+344.2%).

Remarkable the success of other models, like the Kia  EV6 in 26th (+125.5%), the Genesis G90 in 28th  (+356.5%) and the new Ssangyong Torres in 29th.

Tables with sales figures

In the tables below we report sales for Top 50 models.

Market Trend and Outlook

The South Korean vehicles market in 2022 totals 1.67 million sales, a 2.4% decrease in sales compared to the prior year. Despite the overall downtrend, in December sales grew for the 5th month in a row, posting 160,726 new registrations (+5.2%).

Looking at cumulative data from 2022 brand-wise, the Top 5 remain unchanged from the previous year: Hyundai in 1st with 553,839 sales (-6.3%), Kia in 2nd with 541,068 (+1.1%), Genesis in 3rd with 135,045 registrations (-2.7%) followed by Mercedes with 80,976 (+6.3%) and BMW in 5th with 78,545 (+19.6%).

SsangYong ranks in 6th with 68,657 new registrations (+21.8%), in front of Renault Samsung at 52,621 sales (-13.9%) and GM Korea with 37,237 registrations (-31.4%).

Audi remains in 9th with 21,402 sales (-16.4%) in front of Volkswagen closing the Top 10 with 15,791 (+9.9%).

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Research Contents

Focus2move Automotive Market Reports provide a comprehensive and complete overview of the competitive environment including information on the sales volumes of cars and light commercial vehicles, market size, market share, and industry trends. The research also provides a deep analysis of segments and complete data for brands and models in the last two years, plus forecasts for total market sales, segments, and brands up to 2028.

Through our comprehensive global sales database, and the expertise of seasoned consultants in the field, we can help you gain further insight into the automotive market trends and base your business decisions on actionable data.

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Table of contents:

• Country Overview
• Economic Outlook
• Market Outlook
  • Market Heritage
  • Car Passenger’s segmentation
  • LCVs segmentation
  • Car Passengers Body Type mix
  • LCVs Body Type mix
  • Premium segment share
  • Chinese OEMs share
• Key Players
  • Top selling Groups 2022
  • Top selling Brands 2022
  • Top selling models 2022
• Key Factors for market Evolution
• 2023-2028 Volume Forecast
  • TIV evolution by segment
  • Cars and LCVs forecast
  • Segments forecast
  • Premium segment share forecast
  • Chinese OEMs share forecast
  • Forecast by Manufacturer

In a market where the top two brands, Hyundai and Kia, control together a dominating percentage of the market share, the top 10 best-selling models ranking is entirely held by the two Koreans except for the Genesis G80.

The best-seller in 2021 is the Hyundai Porter, with 92,218 units sold (5.4% share).

In second place, overtaken by the new leader, the Hyundai Grandeur with 5.2% market share and 89,084 units sold, ahead of the rising Kia Carnival, jumping 5 spots with 73,233 units sold (4.3% share).

In fourth position the Hyundai Avante -down 1 spot- with 71,031 units (4.1% share) followed by the Kia Sorento with 69,934 units (4.1% share) and the Hyundai Sonata with 63,109 units (3.7% share).

In seventh place the Kia Bongo with 59,729 units (3.5% share), ahead of the Kia K5 which ended up in eighth position -down 4 spots-, with 59,499 units (3.5% share).

The Genesis G80 rose 2 positions registering 59,463 units sold (3.5% share), followed by the Hyundai Palisade which fell 3 spots with 52,338 units sold (3.1% share).

Tables with sales figures

In the tables below we report sales for Top 50 models.