Renault Korea Reports 38.5% Decline in 2023 Sales Amid Weak Demand

Seoul - Renault Korea Motors, the South Korean division of the global automaker Renault S.A., experienced a significant decrease in its sales for the year 2023. The company reported a 38.5 percent drop compared to the previous year, attributing the decline to a general lack of demand for its vehicles.

According to Yonhap News Agency, the company's total sales in 2023 were 104,276 vehicles, marking a 38.5 percent decrease from the previous year. This downturn was a result of weak sales both in the domestic and international markets.

In detail, domestic sales of Renault Korea plummeted by 58.1 percent, reaching only 22,048 units. Exports also suffered a decline, dropping 29.7 percent to 82,228 units. The company highlighted that its best-performing model in 2023 was the XM3, with sales of 77,979 units. The QM6 sport utility vehicle and the SM6 sedan were also mentioned as other models in their lineup.

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