Vehicle importers enjoyed record sales in South Korea in July, with total volumes rising by almost 39% to 14,953 units, according to the Korea Automobile Importers and Distributors Association.
South Koreans are increasingly turning to more prestigious brands, helped by new model launches and aggressive sales campaigns. BMW sold 3,023 units in the month, followed by Volkswagen with 2,696 sales and Mercedes-Benz with 2,567 units.
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Cumulative imports for the first seven months of the year rose by 22.5% to 89,440 units, compared with 73,077 units in the same period of last year.
By contrast, domestic manufacturers are struggling to keep up – albeit from a massively dominant position. Hyundai reported a 1.1% drop in sales in July to 59,302 units, while sister company Kia Motors and Renault Samsung each reported a domestic sales rise of just 1.7%.
