Sales of imported cars in South Korea continued to rise in June from a year earlier, but demand slowed from a month ago as consumer sentiment weakened, Dow Jones reported, citing the Korea Automobile Importers and Dealers Association.
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According to the report, imported car sales rose 5.9% year on year in June to 1,439 units, 23% lower than May’s 1878 units, while May sales rose 23% year on year and 7.9% month on month.
“A slump in the domestic economy hurt imported car demand last month. An imported-auto show held in early May also brought forward the purchase of imported cars, leading to a temporary fall in June sales,” Dow Jones said, citing a statement from the importers’ association.
According to Dow Jones, BMW, which exports 21 models to South Korea, remained the country’s most popular foreign car brand in June, selling 451 units in June and taking 31% of the imported car market.
Toyota’s Lexus ES300 was the best-selling foreign car model in June, with 134 units sold, followed by the RX330 SUV and BMW’s 735, Dow Jones added.
