Foreign car sales slumped 29.1% year on year in South Korea last month.
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Citing Korea Automobile Importers and Distributors Association data, the Korea Herald said 3,760 new imported vehicles were registered last month, about 1,500 units or 29.1% lower than the 5,304 units sold during the same month last year. Compared to December, when combined sales of foreign carmakers tallied 4,046, last month’s imported car sales were down 7.1%.
Saab posted the largest decline as its sales dropped 78% to just 13 units. Peugeot sales fell to 60 units from the 216 recorded in January 2008.
Other carmakers with larger share of the local market also suffered big losses last month. Even Honda, the brand with the largest share of the market for imported cars, saw its sales decline by 26.1% from a year ago, the Herald said.
BMW’s sales declined 30.4%, while Mercedes-Benz and Lexus dropped 42.1% and 29.9%, respectively.
Last month, Ford’s sales increased 18.1% and the number of Bentleys sold last month rose two units to nine.
