The sales of imported cars have declined. This is due to decreased sales of mainstream brands. Premium brands, including Mercedes-Benz, have seen a significant increase in sales, while mainstream brands have been experiencing a sharp decline. The gap between the rich and the poor is deepening.

In the first quarter, the sales of imported cars totaled 62,987 units, a slight decrease of 2.2% from the previous year’s 64,434 units. While premium brands show strength, mainstream brands struggle to keep up.

The competitive landscape between Mercedes-Benz and BMW remains solid. BMW sold 18,134 units in the first quarter, a slight increase of 0.5% from last year’s 18,043 units. Mercedes-Benz recorded 14,952 units, reflecting a 17% drop from last year’s 18,142 units, but in March, it trounced BMW’s 5,664 units with 6,533 sales, showcasing its strength. Together, Mercedes-Benz and BMW hold a market share of 53.64%. This means that one in every two imported car buyers chose either a Mercedes or a BMW.

Porsche’s sales figures are also impressive, with 2,966 units sold, marking a 23% increase over last year’s 2,405 units, demonstrating its strength in the domestic market.

Most mainstream brands, however, struggled to stay afloat. Volkswagen sales plummeted to 1,165 units, down 65% from last year’s 3,374 units. Peugeot reported 306 units sold, which is a 47.5% drop from last year’s 583 units. Jeep saw a decline to 1,117 units, down 24.5% compared to last year’s 1,480 units. Honda also recorded 301 units, representing a significant decrease of 55% from the previous year’s 673 units.

An industry insider mentioned, “As the quality of domestic brands like Hyundai and Kia improves, consumers’ standards have risen, leading customers who traditionally bought domestic cars to switch to foreign premium brands. This has left the position of mainstream brands in the domestic imported car market rather ambiguous.” The insider also emphasized that “imported mainstream brands need to introduce various convenience features suitable for the domestic market, such as additional customer-friendly specifications, to boost their sales.”

By Lee Sang-jin daedusj@autodiary.kr