Kwak Yeon-soo is a digital editor at The Korea Times creating, editing and curating digital content for the newspaper’s website, mobile app and social media. She previously covered a diverse array of cultural, political and business topics.
SUVs, vans gaining more popularity
Hyundai Motor's Palisade / Korea Times file
By Kwak Yeon-soo
Improved mileage, sleek design, more interior space behind growing popularity of crossover vehicles
By Kwak Yeon-soo
Kwon Hyuk-yoon, a 55-year-old Seoul resident, recently traded his SsangYong Chairman sedan for a Nissan Qashqai crossover SUV after moving his workplace to Jeonju three years ago.
“SUVs have more room and a better driving position compared to passenger sedans. I decided to buy a crossover SUV, expecting it would be better for long highway commutes,” Kwon said. “And since I enjoy hiking, I preferred a sportier model.”
He added that SUV fuel efficiency has improved over time, mitigating some of its downsides.
Like Kwon, more and more motorists are favoring SUVs or CDV (Car Derived Vans) vehicles.
Due to the changing consumer tastes, the popularity of sedans has dropped to an all-time low, Korea Automobile Manufacturers Association (KAMA) data showed Sunday.
According to the data, 44,171 sedans were sold in February, accounting for 50.8 percent of 86,932 overall passenger sedans sold domestically.
As the percentage of new-vehicle sales, sedan market share dropped 12.1 percent in February from a year ago.
By comparison, the sales of SUVs and CDV jumped 14.2 percent and 15.4 percent, respectively, from the previous year.
KAMA said the decline in domestic sales of passenger sedans comes as demands for SUVs are on a continuous rise.
Nearly 133,000 SUVs were sold here in 2000, but the figure surpassed 500,000 in 2018.
Last year, the number of SUVs sold in Korea increased 12.7 percent year-on-year to 519,883 hitting a record high.
Many automakers have been diverting their attention to more profitable SUVs, with Hyundai Motor's Palisade and SsangYong Rexton Sports enjoying brisk sales lately.
“SUVs come in pretty designs, offer spacious, safer advances that consumers would prefer,” a Hyundai Motor official said, adding that an ever-greater variety of SUVs may have led to dipping sales of sedans.
When asked if the all-new Sonata will boost domestic sales of sedans, the official said “It's hard to say if the sedan segment will rebound in the coming months.”
Last week, Hyundai Motor unveiled the eighth generation of the company's mid-sized sedan to expand its presence in the domestic sedan market.
The company said it aims to sell 70,000 “all-new” Sonata sedans in the domestic market this year.
“A lot of the companies are still committed to producing compact and midsize cars. While the figure may shrink further, sedans will continue to be an important part of the industry,” he said.
Meanwhile, the popularity of SUVs has been forecast to continue next year, boosted by low fuel prices and widespread leisure activities.