Auto industry likely to lack hit model in 2016

The local auto market is not likely to have a hit model this year that sells over 100,000 vehicles, something that has happened only three times over the past 15 years, industry watchers said Monday.

Industry data for 2016 up to the end of October showed Hyundai Motor's midsize sedan Avante sold the most at 78,253 vehicles, followed by Porter, a small truck from the same company, with 78,115. 

Hyundai's Sonata, the model that has been the face of the automaker, came in third with 69,039, after two consecutive years as the No. 1 best-seller.

Avante and Porter are likely to compete to be this year's best-seller, but industry watchers say neither is likely to reach the 100,000 sales mark, the magic number that attests to a model's popularity, this year with less than two months left.

"Selling more than 100,000 a year gives a model the badge as the most popular car, but it also serves as the volume car that pulls up the sales for the automaker," an industry official said.

"The dull performance by Hyundai, which had not missed the No. 1 best-seller ranking for years, and the lack of a 100,000 seller this year are not unrelated."

There have been only three times since 2000 that no models broke the 100,000 sales -- in 2003, 2004 and 2013. Hyundai's Sonata had reached the number 13 times during the period. The Avante made the feat six times.

Industry watchers say the domestic economic slump, union strikes at Hyundai and slow changes in lineups all contributed to the dull market. The Hyundai management argues that the strikes cost it 142,000 cars in lost production. 

As of the end of October, total car sales reached slightly over 7.1 million this year, falling 2.1 percent from same period last year. 

The unusual popularity of Porter trucks, purchased mostly by the self-employed who sell from the vehicles or make a living doing deliveries, indicate the local economy is in trouble, they say. (Yonhap)