Sales of imported cars in Korea have declined for two consecutive months.
The Korea Automobile Importers and Distributors Association reported on the 3rd that the number of new registrations for imported cars in October was 21,329, down 5.5% from the previous month’s 22,565. The cumulative sales for October this year totaled 219,071, a 2.9% decrease compared to 225,753 during the same period last year, and a significant drop of 15.9% from last October’s 25,363.
Among brands, Mercedes-Benz is relentlessly pursuing BMW. Mercedes-Benz sold 6,612 units, reflecting a 5% decrease from the previous month’s 6,971. BMW, on the other hand, recorded 5,985 sales, down 3.3% from 6,188 in the prior month. Year-to-date sales show a tight race with Mercedes-Benz at 60,988 units and BMW at 62,514 units, a difference of just 1,526 units.
In terms of engine displacement, registrations for vehicles under 2,000cc stood at 11,760 (55.1%), indicating that more than half of imported car buyers prefer compact models with lower maintenance costs. Regionally, European brands dominate the market with 18,212 units (85.4%) sold. In terms of fuel type, gasoline cars lead with 9,790 units (45.9%), followed by hybrids at 7,099 units (33.3%), showing that most imported car buyers favor gasoline or hybrid vehicles.
The best-selling models in October were the Mercedes-Benz E-Class (3,578 units), BMW 3 Series (976 units), and BMW 5 Series (758 units).
Contact: 이상진 daedusj@autodiary.kr