Import Car Sales Keep Going up

SEOUL, KOREA - The sales of import cars in Korea grew 20 percent year on year in January 2014. The expansion of the import car market has continued, along with the increase in sales of diesel models centering on German brands.

 

According to the Korea Automobile Importers and Distributors Association on February 6, the number of import cars newly registered last month totaled 14,849 units, up 20.3 percent from a year ago.

Last month’s sales represented the second highest figure after July 2013 when the sales of import cars reached 14,953 units. Despite the decrease in work days due to the Lunar New Year’s Day holidays, the January sales represented a 19.7-percent growth compared to a month ago.

By brand, BMW came on top with 3,408 units, followed by Benz with 2,773, Volkswagen with 2,700, Audi with 2,137, and Ford with 757. The market share of Germany’s big four brands increased further. Their combined sales reached 11,112 units, with their share estimated at 74.8 percent.