Honda's Korean sales unit announced a surprise decision to withdraw from the country's automobile market. The company will completely halt vehicle sales by the end of 2026.
Changing Market Conditions Pushed Honda to This Decision
Speaking at a press conference in Seoul, Honda Korea CEO Lee Ji-hong stated that the decision was made considering changing market conditions and exchange rate fluctuations. According to rumors, pressure from Chinese brands also played a role in this decision.
Although the company will cease car sales, it will continue to provide after-sales services to its existing customers. In this context, it was stated that service and support operations will be maintained.
Honda is not completely abandoning its strategy in Korea. The brand aims to strengthen product competitiveness, customer experience, and brand perception by focusing more on its motorcycle business.
Honda's venture in Korea began in 2001 with motorcycle operations, and its automobile sales unit was established in 2003. To date, the company has sold a total of 108,600 cars in the country.
On the motorcycle side, Honda maintains its strong position. Total motorcycle sales have reached 420,600 units, with the brand holding market leadership in this segment.
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