Small Cars, Long Waits: Hyundai Casper Faces Up to 20 Months, Kia Ray 7+ Months as Shortage Deepens

Small Cars in Short Supply: Delivery Delays Continue Into 2026

South Korea’s small car shortage is expected to persist into the new year, as delivery waiting periods for compact models continue to lengthen despite overall improvements in the broader auto market.

According to Hyundai Motor and Kia, most passenger vehicles now have delivery wait times of less than one month. In contrast, light vehicles (mini cars) face significantly longer delays due to limited supply and constrained production capacity.

Casper and Ray See Extended Waiting Periods

As of last month, Hyundai’s Casper recorded delivery wait times of 17–18 months for gasoline models and 18–20 months for electric versions, with some EV trims requiring up to 26 months.

Kia’s Ray is also affected, with both gasoline and electric models averaging seven months, while certain trims require up to 10 months before delivery.

Industry sources attribute the delays primarily to production shortages, creating a situation where demand far exceeds available supply.

Export Demand and Outsourced Production Limit Supply

For the Casper, the surge in electric vehicle exports to European markets has significantly reduced domestic allocation. As global demand expands, Hyundai’s limited additional production capacity has resulted in longer wait times for Korean consumers.

Both the Casper and Ray are produced under outsourced manufacturing systems, rather than direct in-house production. This structure limits the ability to rapidly increase output, even when demand rises sharply.

Hyundai’s Casper is produced by Gwangju Global Motors (GGM), which has set its 2026 production target at 61,200 units, a slight increase from the previous year. However, plans to shift to a two-shift production system were canceled, limiting potential output growth.

Kia’s Ray, produced by Donghee Auto, faces similar constraints.

Mini Car Market Continues to Shrink

Ongoing supply shortages are contributing to a contraction in South Korea’s mini car market. Currently available models include the Hyundai Casper (gasoline and electric), Kia Ray (gasoline and EV), and Kia Morning.

Annual sales volumes have steadily declined:

2022: 133,023 units

2023: 123,679 units

2024: 98,743 units

For 2025, total sales are projected to hover around 70,000 units, potentially marking the lowest level on record.

Outlook for 2026

Despite high interest in affordable and practical vehicles amid prolonged high inflation and interest rates, industry experts believe supply-side limitations and profitability challenges will keep the market in a state of shortage throughout 2026.

An industry official commented,

“Demand for practical mini cars remains strong, but structural production limits and narrow profit margins mean the current ‘sold-out’ market conditions are likely to continue this year as well.”