Sales of imported light passenger vehicles in South Korea declined by 5.6% to 18,122 units in August 2019 from 19,206 units a year earlier, according to member data released by the Korea Automobile Importers & Distributors Association (KAIDA).
Imported brands fared slightly better than the overall market last month, with domestic sales falling by 6.2% to 118,479 units from 126,336 units, despite a sharp drop in sales of Japanese brands as political and trade frictions between the two countries flared up in the last two months.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sales of Japanese brands combined fell by over 57% to 1,390 units in August from 3,247 units a year earlier due to what is described in Japan as a consumer boycott, but were down just slightly at 27,554 units in the first eight months of the year from 27,761 units previously – reflecting a strong performance in the first half of the year.
Overall sales of imported passenger vehicles fell by more than 18% to 146,889 units in the first eight months of the year from 179,833 units in the same period of last year, with the segment's overall performance also affected by BMW's recall last year by following a series of engine fires.
The leading import brand, Mercedes-Benz, reported a 3.3% sales drop 47,201 units in the eight month period from 48,803 a year earlier while BMW sales were more than 36% lower at 26,012 units; Lexus 9,957 units (+31.4%); Toyota 7,726 units (-29.4%); Volvo 6,978 units (+18.1%); Mini 6,407 units (+6.5%); Chrysler 6,166 units (+45.4%); and Honda 6,290 units (+44.5%).
Volvo Car Korea strengthened its range last month with the launch of the new S60 sedan.
Volkswagen vowed to continue to rebuild its presence in South Korea after being virtually excluded from the market for more than a year in 2016 following its widely reported diesel emissions cover up scandal.
The automaker said it planned to launch five new SUV models in the country in the next few years.
